Advance Agreement For Sale Of Land

Section 54 further states: „He does not in itself create interest or calculate such property properly.“ In one case, my client received a home loan from MNC Bank, and the bank manager insisted on a TDS prepayment of the buyer`s contribution. The problem was Rs 100, the buyer paid Rs 10 as token money and Rs 80 had to be paid by the bank. The amount of TDS was Rs 20.66 (long-term capital gain for real estate with a value greater than 1 Cr). The bank insisted that the buyer pay this amount out of his own pocket. The bank manager was not able to explain, even if the buyer pays Rs 20.66 for the Advance TDS, the total number to a seller will be Rs 80 + Rs 20.66 + Rs 10 dh Rs 110.66. How does the buyer get a refund of the overpaid amount, i.e. Rs 10.66. In short, TDS as a down payment in a real estate transaction is a BIG NO, even if it is 1% (in the case of a resident Indian seller). . .

.