TDS 26QB CLARIFIACTIN

This query is : Resolved

Uppunooti Naresh (Querist)
Follow

18 November 2019
I would like to know when i have to deduct TDS suppose: Example
1. I have booking a Villa for 75,00,000 on 02.06.2019 and paid booking advance of 50, 000
2. i have to paid on or before of Agreement of sale 20% of Sale Value i.e 15,00,000 31.07.2019
3. then i went to loan for the balance amount and the Registration done on 28.09.2019 and the balance amount ( i.e Loan Sanction Amount Directly transferred to Seller ) after the Registration.
4. if am TDS deducted after the Registration 1.11.2019 on full Value 75 Lakhs and paid the same date is it considered as late deduction.

in the above cases when i supposed to deduct TDS and if the AOS have multiple buyers, if there share is below the 50,00,000 ( 75 Lakhs A-45, B-30 ) is it required to deduct TDS.
thanks in advance

Uppunooti Naresh

Uppunooti Naresh (Querist)
Follow

23 November 2019 Hi anyone can answer this

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

19 December 2021 TDS is required to be deducted over each installment, including advance paid any.
Each buyer has to deduct TDS as and when any installment paid by him/her.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now