194ia when to pay for under construction property

383 views 1 replies

Hello,

I purchased an in construction property of 90L. 45L was already paid by me in Oct 2023 and another 45L home loan availed. Bank has released 35L based upon construction progress and handover of apartment is expected in Dec 2024.

So far I have not deducted any TDS under section 194IA as I was not aware. Question is

1) Should I pay the TDS now or do I have time till possession of the property to make the payment ?

2) Is there any penalty I have to pay now or later for this ?

Replies (1)

1. Pay as early as possible.

2. Yes, interest payable over delayed payment.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details