TDS on Final Property Installment: Clarification

This query is : Resolved

Quick Summary

A property buyer is seeking clarification on the correct amount for TDS deduction on their final installment. They have provided details of the total property value, previous payments, and the current installment amount. The buyer is unsure if the proposed TDS deduction amount of ₹3,546,250 is correct, as it matches the total property value, and previously matched the current installment amount. They are requesting guidance on the accurate calculation.

S Kanrar

S Kanrar (Querist)

16 March 2025 Respected Sir/Madam,

I hope this message finds you well.

I would like to confirm if I can proceed with the details mentioned below. The confusion arises regarding the value of "Amount on which TDS is to be deducted." I would appreciate your guidance on this matter.

There are two buyers, and I am providing individual data for each. The total property value is ₹7,092,500/-.

Individual Details:

Total Value of Consideration (Property Value): ₹3,546,250/-
Payment Type: Installment
Is this the last installment? Yes
Total Amount Paid/Credited in Previous Installments (A): ₹3,000,000/-
Amount Paid/Credited Currently (B): ₹5,46,250/-
Total Stamp Duty Value of the Property (C): ₹3,546,250/-
Amount on which TDS is to be Deducted (D): ₹3,546,250/-
TDS Amount: ₹5,463/-
Could you kindly suggest the correct value for the "Amount on which TDS to be deducted" is correct or not.
In earlier the value was same with Amount Paid/Credited Currently (B).

Thanks & Regards,
Samiran