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Ashish Bansal   15 February 2021

Interest calculation on tds payment for buying property

My builder raised a demand where I had paid the amount after deducting TDS to builder and TDS on the Income Tax dept website before the due date. I sent the proof of payment along with Form-26QB to the builder. The form-16B was generated by IT website after 5 working days. My builder charged the interest for this delay in Form-16B. Could delay in Form-16B be considered as delay in payment of TDS by the builder? Is there any guideline on this on RERA?



Learning

 1 Replies

Sankaranarayanan (Advocate)     29 April 2021

You can ask your builder on what base the interest will be charged? based on the explanation by your builder you canascertain that the interest leviable is genuine or not


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