I have purchased a Flat in 2014 @ Rs 47,95,000/- ...which is the consideration amount paid to the seller.
During registration of the deed at the DSR office, Kolkata, the market value was derived @ Rs 50,73,000/- on which the stamp duty and other charges are calculated.
Currently, I have received a communication from TDS department to pay TDS @ 1%.
Section 194 IA of income tax rules, clearly states that the TDS is to be paid if consideration amount is more than Rs 50 Lacs.
I mail TDS department, they are saying the data is provided by DSR, Kolkata and they have vetted it OK. So I need to contact the DSR.
When I approached the DSR, if says he knows nothing and contact TDS department. He says that the TDS is to be calculated on the market value.
Now when approached the seller for payment of the money, since the same is to be dedcuted from the amount paid, he cites the IT law and says that the consideration amount is less than Rs 50 Lacs.
Please update whom should I approach for this and who could give me a written clarification so that I can present the same to my seller for retrieval of the money.
