Mahesh S
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TDS on under construction property
Q: I have agreed a total value with the builder and am now told about the TDS rule. Should I be paying this or should I remove the TDS component when I pay the builder?

Latest Answer: As per the rules, the buyer of the property is required to deduct Tax (TDS) and deposit the same with the Government. The rate at which the buyer needs to deduct tax is 1% and it may go up to as high as 20% if the seller does not disclose his PAN. This rule also covers the property purchased through home loan.

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