Advance payment

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62 Points Posted on 22 January 2021
Whether part payment is done on purchase of house property attract TDS under 194 I
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On 22 January 2021 at 15:56 Report
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This discussion clarifies the applicability of Tax Deducted at Source (TDS) under Section 194I on advance payments made for house property purchases. TDS is applicable if the aggregate payments exceed ₹2,40,000 during the financial year. Crucially, if the total consideration for the property exceeds ₹50 lakh, TDS provisions will be triggered, regardless of the individual payment amounts.

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Chartered Accountant
24588 Points Posted on 22 January 2021
If the aggregate value exceeds 240000 rupees during the year then tds u/s 194I is applicable
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On 22 January 2021 at 17:54
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17269 Points Posted on 22 January 2021
For every payment small or big but total property payment exceeding 50 lakhs consideration attract TDS provisions.
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On 22 January 2021 at 20:09
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Accountant
4533 Points Posted on 23 January 2021
On purchase of house property TDS is applicable when value exceeds 50 lakh
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On 23 January 2021 at 23:30

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