Since I have purchased my home in noida and i wanted to know the TDS at a rate of 1 % have been deducted and I have to know where it goes and at how it will be utilized?
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  • Originally Posted by annieebesant
    Since I have purchased my home in noida and i wanted to know the TDS at a rate of 1 % have been deducted and I have to know where it goes and at how it will be utilized?

    Form 26as. You get benefit in income tax.
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  • Originally Posted by annieebesant
    Since I have purchased my home in noida and i wanted to know the TDS at a rate of 1 % have been deducted and I have to know where it goes and at how it will be utilized?




    Dear Annieebesant,


    The TDS 1% being deducted has to be deposited before Income tax department by the buyer and rest 99% being paid directly to the builder.


    The builder in turn is taking the claim of 1% deposited by us before IT department by disclosing the amount of installment paid by us.


    Basically, it ensures the payment to the builder and being in the knowledge of the IT department.


    It can also check or reduce the amount of black money being put into the real estate business.


    As a buyer, it is good that the white money being paid to the builder is being utilized in a white way.
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