09 February 2015
Yes TDS is applicable on advance payments if the property value exceeds 50 lakhs.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
09 February 2015
Thank you sir, This rule is applicable from June13 onwards, suppose had made a payment of Rs.15lakh advance in July13, and dedcuted tds@1% under 194IA, but not made the tds payment till date, what will be the implications. tds deductor do not have TAN no.also, in this situation what we need to do, interest on TDS@18% per annum need to pay, right, if anything more to do please advise me.