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ITAT Ruling Highlights TDS Obligations for Property Buyers
The Mumbai Income Tax Appellate Tribunal (ITAT) ruled that a property buyer is not liable for short TDS deduction if the seller regularizes their PAN. The case involved a Rs 1.9 crore flat purchase where the buyer deducted TDS on her share, but the tax department sought higher TDS due to an inoperative PAN. ITAT deleted the demand, citing CBDT circulars and the seller's tax compliance. Experts advise buyers to be aware of TDS obligations, especially for non-resident sellers or joint property purchases.
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Times of India