Advance payment

Whether part payment is done on purchase of house property attract TDS under 194 I
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Quick Summary
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.

If the aggregate value exceeds 240000 rupees during the year then tds u/s 194I is applicable
For every payment small or big but total property payment exceeding 50 lakhs consideration attract TDS provisions.
On purchase of house property TDS is applicable when value exceeds 50 lakh

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