TDS on Property - Professionals - Taxation - TIK Share
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TDS on Property

Nishant Verma


Hi ,


I had purchased an underconstruction property in May 2013. 

The house is in the name of myself and my wife.

This year (April 2016), I get a mail from TDS Intimations:

Subject: CPC (TDS) Follow up: 26QB Statement not yet filed for Purchase of Property during FY 2013-14

Now I have a few questions on this:

1) I have read that both me and my wife have to pay this (both buyers). How do i determine the share. Can it be 100% and 0%? or 50% /50%? There is nothing mentioned in the sales agreement.

2)  Is this a demand payment or an intimation. I dont see any amount mentioned anywhere.

3) I believe there is a seperate link for demand payments. Do I use this link or use the normal one .

4) Since the payment where made from 2013-2015 , the fees has added up to 100% of the TDS amount. Is this to be paid.

5) I also have to pay interest.

6) Is my undestanding correct: Since I did not deduct TDS. I have to pay 1% TDS + Interest + Fees (@200 per day) from my own pocket. (FYI - the builder will no longer entertain me).


Really appreciate your help on this.

Awaiting your response. 





Nishant Verma


Also, do I have to pay TDS on payments made before 1st July 2013.