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TDS ON section 194IA

This query is : Resolved 

25 January 2022 i purchase new Flat of 1.75 Lakh. By Bank 40 lakh payment to seller on 10th Nov & 20 lakh payment on 14th january.

Now any interest is applicable on 10Th Nov payment Rs.40 Lakh ? it is under the limit

please guide

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25 January 2022 Interest over late payment of TDS would be charges.

25 January 2022 Nov payment Rs.40 lakh. but TDS applicable above 50 Lakh than my liability stand on january ?

25 January 2022 It is not the threshold limit for TDS deduction, but for the value of the property over which TDS deduction is applicable.

25 January 2022 ok, If property value is over 50 Lakh than any amount paid /credited to seller than deduct TDS & deposit

25 January 2022 Yes, including any advance paid...

25 January 2022 Sir , Payment Dt.25 November in this case 1% interest calculate on 40 Lakh. Deposit Dt 31 Dec. if not paid than interest charge for 1 month or 2 month ? if paid in jan-2022

25 January 2022 2 Months.

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