TDS on property_Form 26QB

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This discussion clarifies the correct dates to enter in Form 26QB for Tax Deducted at Source (TDS) on property purchases. It explains that 'Date of Payment/Credit' refers to the date an instalment was due or the payment was made/credited, while 'Date of Tax Deduction' is the actual date you deduct the tax from that payment. The advice is to use the date of payment for both fields when paying TDS on the current date.

Unnmesh Jadhav

Unnmesh Jadhav (Querist)
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21 February 2022 Under 'Property Details' in form 26QB, I am able to understand below terms:
1. Date of Payment/Credit: Is this a date when booking amount was paid or Agreement executed or a date when 100% payment to the builder was done?
2. Date of Tax Deduction: Do we need to put today's date when we are paying TDS on property?

In my case, I paid Booking amount in 2013, agreement was executed in 2014 & I haven't got possession yet so haven't paid full amount to Bulider.

What dates shall I use for these 2 fields.

Thanks in advance for your response.

CA Puja Sharma

CA Puja Sharma (Expert)
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21 February 2022 Mention both the dates as date of payment on which you are deducting the tax.

Message likes : 1 times

Unnmesh Jadhav

Unnmesh Jadhav (Querist)
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22 February 2022 Thank you, Puja Ma'am.
Just to confirm, if I am paying TDS today shall I put today's date 'Date of Payment/Credit' as well as 'Date of Tax Deduction'?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 February 2022 1. Date of payment or credit will be date on which installment was due.
2. Date of tax deduction is date on which you deducted tax from the payment..

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