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194 IA - TDS ON PURCHASE OF PROPERTY

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Sabya Ghosh

1 Points Joined August 2021

I HAVE PURCHASED A PROPERTY WORTH 80 LACS , REGISTRATION DONE ON THE PROPERTY IS ON 3 RD AUGUST 2021 , HOWEVER OWN CONTRIBUTION of RS. 4 LACS PAID TO BUILDER AT JULY END ... RS.1 LAC IS STILL PENDING FROM WHERE 1% TDS IS PLANNED TO BE DEDUCTED AND BALANCE WILL BE PAID TO BUILDER . LOAN AMOUNT IS UNDER PROCESS AND YET TO BE DISBURSED BY BANK ..,,

CAN ANYONE HELP ME IN UNDERSTANDING THE LAST DATE FOR DEPOSITING TDS ... IS IT 7 th

AUG OR 7th SEP 2021 ????

Replies (1)

CMA Poornima Madhava

CMA

13117 Points Joined May 2009

Tax to de deducted at source at the time of credit or payment, whichever is earlier. TDS to be remitted within 30 days from the end of the month in which the deduction is made. If paid in July, 30th August 2021 would be due date for payment of TDS on Rs.4 lacs.