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Girish (.)     19 June 2013

Tds content in sale deed

Hi Experts

With the introduction of new TDS to be paid by buyer from 1st of Jun onwards, I need clarification on the TDS related content we need to put in the Sale Deed. The property I am planning to purchase is for Rs. 68,00,000 and the TDS will be Rs. 68000. I have paid the advance the Rs. 6,00,000.

So do we need to mention the TDS amount in the Sale Deed e.g.


The purchasers have paid the remaining sale consideration amount RS. 68,00,000 (Sixty Eight Lakhs Only) to the Vendors as follows.
(i). Rs.6,00,000/- (Six Lakh Rupees) through Demand draft                                           
       bearing No…………………………….dated …………………….drawn upon ……………………Bank in favor of the First Vendor.

(ii) Rs. 67,32,000(Sixty Seven Lakh Thirty Two Thousand Rupees Only) through Demand Draft bearing No. …………………… dated ……….. of …………………… Bank payable at …………………….

(iii) Rs. 68,000 (Sixty Eight Thousand Only) Deducted towards TDS payable by buyer as per Section 194IA.



OR

The purchasers have paid the remaining sale consideration amount RS. 67,32,000 (Sixty One Lakh Thirty Two Thousand Rupees Only) to the Vendors as follows.
(i). Rs.6,00,000/- (Six Lakh Rupees) through Demand draft                                           
       bearing No…………………………….dated …………………….drawn upon ……………………Bank in favor of the First Vendor.

(ii) Rs. 61,32,000(Sixty One Lakh Thirty Two Thousan Rupees Only) through Demand Draft bearing No. …………………… dated ……….. of …………………… Bank payable at …………………….

<<< no mention of TDS >>>


OR

is there any other format we need to follow?



Learning

 2 Replies

Neha Chowdhary (Law Officer )     19 June 2013

hi...

Fiirst one is better...

u can insert like this also...

The Buyer had paid/agreed to pay an amout of Rs._____________/- towards Tax Deductible at Source as per section 194IA on the total value of Rs.____________/-.

Please do specifically mention about TDS paid/payable as this is better for future and avoids unforseen consequences regarding Tax payment.

Regards,

Neha

A12B34567@msp   28 June 2023

Hi Experts

I need clarification on the TDS related content we need to put in the Sale Deed. The property I am planning to purchase is for Rs. 48,00,000 ( 48 Lakh INR) and I am paying the tax TDS 20.8% and pay it to the income tax department on behalf of the seller. I need to mention in the sale deed and I am seeking your suggestion to have the correct content in sale deed. Can I menton as below?

Rs.10,02,240 ( 10 Lakhs two thousand and two hundred fourty) Deducted towards TDS 20.88% and pay it to the income tax department on behalf of the seller on <Date> with <TAN number reference>, <payment details>.


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