Tds of 26qb
This query is : Resolved
28 April 2016
e.g
1) i am going to purchase 51,00,000/-Flat in Mumbai ... and it is under construction . i am paying it in installment , so i want to know every installment i have to deduct TDS. OR at time of registration..
2) i am paying service tax and vat amount separately to the builder .. so i want to know i have to pay TDS on it
1) i am going to purchase 51,00,000/-Flat in Mumbai ... and it is under construction . i am paying it in installment , so i want to know every installment i have to deduct TDS. OR at time of registration..
2) i am paying service tax and vat amount separately to the builder .. so i want to know i have to pay TDS on it
Kaushik Joshi
(Expert)
28 April 2016
Mr. Maaz,
us you'll have to pay tds whenever you pay installments. you'll have to pay tds on amount excluding service tax.
Message likes :
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CA SUNIL K GARG
(Expert)
29 April 2016
TDS on property is required to be deposited with income tax authorities within 7 days from end of month in which TDS was deducted. If payment is made in installments then it shall be deducted at each installment and deposited after each one.
On a reasonable interpretation of the section, Service tax and VAT should not be considered as part of consideration and tax thereon should not be deducted.
On a reasonable interpretation of the section, Service tax and VAT should not be considered as part of consideration and tax thereon should not be deducted.
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