TDS On Unregistered Flat | Vkeel - Free Legal Advice

****j

Hyderabad

Discussing to buy a flat from the builder through assignment agreement from the original buyer, who is not yet registered the flat and want to sell it through ownership transfer. Please help with following questions The MOU and assignment value are 1cr, however registration value will be the original price of the buyer ie 70 lakh. How can I show TDS in the sale deed. Will I get loan above 70 lakhs. Any problem will come for in future when I sell the flat or for loan transfer

Expert's Answers(3)

Advocate Kishan Dutt Kalaskar
Bengaluru, Karnataka

184 Client Ratings

Dear Sir, You may approach Auditor or chartered accountant or office of Sub-Registrar to get first hand information and guidance. Please mark “LIKE” if satisfied by my answer.

July 5, 2021
Advocate Srinivas G D
Bengaluru, Karnataka

19 Client Ratings

Mr. Manoj , the rule is Any property values is more than Rs.50 Lakhs 1 % TDS is applicable. As per your version the Assignment Agreement Value is Rs 1.00 Crore. you cannot avoid TDS .As per Income Tax Department TDS is calculated on basis of Transaction Value. For further details contact me

July 5, 2021
Advocate Anik
Bengaluru, Karnataka

65 Client Ratings

Hi, For this query, please consult with an practicing chartered accountant.

July 4, 2021