®
TaxReply India Private Limited
GST Library
Login | Register
Best GST Library
Subscription Plans
TaxGPT
GST News | Updates
GST Calendar
GST Diary
GST Notebook
GST Fees Manager
GST Case Laws
GST Case Laws Sitemap
GST Notifications, Circulars, Releases etc.
Act & Rules
Act & Rules (Multi-view)
GST Rates
HSN Classification
GST Council Meetings
GST Set-off Calculator
ITC Reversal Calculator
E-invoice Calculator
Inverted Duty Calculator
GSTR-3B Manual
GSTR-9 Manual
GSTR-9C Manual
GST Forms
Full Site Search
E-way Bill
Finance Bill
GST Videos
About Us
Contact Us
Our Services
®
TaxReply
@taxreply
WhatsappGroup
TDS on property sale
I have a query regarding the TDS on my property. I have a home loan linked with the property and the outstanding is 23 Lacs.
I sold my property to a buyer who is transferring the home loan from the same bank. The total sale value of the house is 37 lacs and the stamp duty he is paying is on this amount. However, the sale agreement executed for 67 lacs and was provided to the bank with the condition to repair and renovate for remaining 30 lacs. So, total 37 lacs is the cost of the house and 30 lacs is the renovation charges.
Bank is providing a total of 55 lacs loan to the buyer, in which my outstanding balance of 23 lacs will be deducted and I will get 32 lacs.
Now, is it required to pay TDS as the total as per sale agreement is 67 lacs or not required as per sale deed it is 37 lacs. Or is it not required because the bank is deducting my outstanding loan and the amount I receive falls under 50 lacs. Please help with the response.
Feb
10 Feb
☑ Monthly | GSTR-7
GSTR-7 for the m/o Jan 2025 (For TDS Deductors u/s 51 - Section 39(3)).
☑ Monthly | GSTR-8
GSTR-8 for the m/o Jan 2025 [For TCS collection by E-Commerce Operators - Section 52(4)].
11 Feb
☑ Monthly | GSTR-1
GSTR-1 for the m/o Jan 2025 (Monthly Taxpayers) - N.No. 83/2020.
13 Feb
☑ Monthly | GSTR-5
GSTR-5 for the m/o Jan 2025 [Return by Non Resident Taxpayers - Rule 63 - Section 39(5)]
☑ Monthly | GSTR-6
GSTR-6 for the m/o Jan 2025 [For Input Service Distributors - Rule 65 & Section 39(4)].
☑ Monthly | IFF
IFF for the m/o Jan 2025 (QRMP Taxpayers, Optional) - Rule 59(2).
20 Feb
☑ Monthly | GSTR-3B
GSTR-3B for the m/o Jan 2025 (Monthly Taxpayer - Rule 61) - Either Compulsory taxpayer > 5 cr. or Voluntary taxpayer < 5 cr.
☑ Monthly | GSTR-5A
GSTR-5A for the m/o Jan 2025 [Return by OIDAR Service Providers - Rule 64.]
25 Feb
☑ Monthly | PMT-06
PMT-06 Monthly tax payment for Jan 2025 under QRMP Scheme [Rule 61(1)(ii) - Proviso to Section 39(7)].
Taxpayers have a choice to pay tax either, as per -
28 Feb
☑ Monthly | GSTR-11
GSTR-11 for the m/o Jan 2025 (Statement of inward supplies by persons having Unique Identification Number (UIN)).