BAB: Bangalore Apartment Buyers Guide - TDS deduction by buyer before paying seller

There are several views about the TDS deduction before paying the builder. Please educate yourself by visiting the official site below.

http://www.incometaxindia.gov.in/Charts%20%20Tables/TDS%20Purchase%20of%20Immovable%20property.htm

The Income tax rule is here. Buyer has to deduct the TDS of 1% of payment before paying the builder. This is applicable, if the transaction value is above 50L.

This is just an introduction and a place for people to share their experiences here.

I expect builder to bear this amount, but needs to be seen in the case of Pride Developers what they are going to do. They already collected from customers like us and deposited on our behalf, but yet to make a commitment, this amount we already paid will be deducted from the overall payment to us. Wait and watch.

How are other builders treating you? Share your views here please for the benefit of everyone. Thank you.