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Tds of 26qb

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(Querist)
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
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Kaushik Joshi

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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.
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CA SUNIL K GARG

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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.
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