Dating cash money tds
In almost 99% cases, the bank insists that buyer should make the advance TDS payment and submit the payment receipt before disbursement from bank’s end. The rule says that TDS is due only at the time of making payment.
How can you force a buyer to deposit TDS in advance?
I agree that at the end of the day you have to pay 100% consideration value but timing is equally important.
Front loading of payment means increased risk for a buyer. 1 in the list wherein banks insist on advance payment in a property deal.
You can submit written application with bank informing the residency status of the seller as NRI/resident Indian.
Now million dollar question is if god forbids and after making advance TDS payment the deal does not go through. He made advance TDS payment and the seller died in a road accident while traveling from Delhi to Chandigarh to execute the sale deed.The seller will get almost 1.5 to 1.8 times the sale value and buyer A & buyer B will fight with each other for the property.I have addressed this issue in my post, 5 Steps to Close Home Loan of a Seller.It is always advisable to follow the standard process to avoid any future shocks.A buyer should directly pay to the home loan provider of the seller to pre-close the home loan. Stamp Duty and Registration Charges: The rules related to stamp duty and registration charges vary from state to state.