Tax Deducted Sample Clauses

Tax Deducted. At Source (TDS): While making each Payment, the Allottee, if applicable, shall deduct TDS under section 194-IA of the Income Tax Act, 1961 @1% (or any amendment thereof) on the instalment amount being paid and deposit the same TDS Certificate with the developer. Where the Allottee pays the Developer after deducting the TDS but fails to deposit TDS amount with the Central Government the Allottee shall be deemed to be Defaulter Allottee under the Clause 6 of this GTC.