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Egattur OMR
The 110-acre House of Hiranandani integrated and functional community overlooking the backwaters and the Bay of Bengal will soon transform the skyline of Chennai. Strategically located on the Old Mahabalipuram road in Chennai, opposite the SIPOCT IT park, it is easily accessible by road and rail. This makes it one of the most sought after luxury residential projects in Chennai. The Hiranandani Upscale project in Egattur offers apartments from 2 to 5 BHK that range from 1295 to 7000 sq.ft. Surrounded by lush vegetation, our luxury flats offer the best comforts in an elegant and relaxed living environment. Read More The dedicated clubhouses for each phase, swimming pools, diverse restaurants and the refreshing view of the Bay of Bengal are only some of the comforts offered by our Egattur luxury property. These features, along with many more, positions it amongst the best residential projects in Chennai.
 
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Disclaimer: The layout details, amenities and facilities mentioned / shown are subject to changes / relocation within the composite development / are subject to modification, amendment, changes and revocable, without any notice, at the discretion of the Developer.
Information on TDS

The Finance Act, 2013 introduced a new section 194IA, which mandates tax withholding of 1 percent (1%) by the transferee (i.e. Buyer) on credits or payments (whichever is earlier) made to a transferor (i.e. seller) in relation to the transfer of immovable property, being land (other than agriculture land) or a building or part of the building, if the consideration for such a transfer of property is Rs 50 lacs or more. The said section is effective from 1st June, 2013.

In light of the above, the buyer is required under Section 194 IA of the Income Tax Act, 1961, to deduct the withholding tax of 1 percent (1%) in respect of credits or payments made to the seller, whichever is earlier, from 1st June, 2013 and deposit the same with the statutory authorities and produce the copy of the challan to the seller for its records. The credit of the amount so deposited would be given to the buyer only when the seller has ensured that the tax so paid has been correctly reflected in 26AS Statement of the Company.

For the PAN number of your seller, and in this case, the Company through which a contract for transfer of immovable property has been entered into, please contact your relationship manager, or customer service agent.

To know more about the Section 194 IA of Income Tax Act 1961, and to pay the tax through e-payments, please follow the link mentioned below which will help educate you on the process and steps to be followed to make tax payments online.

http://www.slideshare.net/swetasingh89/e-tutorial-tds-on-property-22598141
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