Can TDS be deducted before making payment

No issue ,if the amount isn't going to increase or decrease in the future. 

Deal amount is fixed I.e. 90 lacs...but I only made 8 lacs payment in Mar'24 and rest of the payment in Apr'24.....but deducted and submitted and filed tds return on complete deal amount I.e. 90 lacs in Mar'23 only I.e. before making the payment to the seller. So, complete tds filed for Mar'24 but payment also made in Apr'24...... is it fine? 

Few issues to consider:

1. the sellers will get TDS credit in FY 2023-24 instead of 2024-25 and complicate their tax filing.

2. the data in TDS return (for NRI) and Form 26QB won't match the registrar records. This will mess up the AIS data.

3. AIS data for you would show purchase of high value property in 2024-25 but no corresponding TDS data will be there for the same FY. This may cause mismatch in your return too. 

Hi Nikhil,

if due to mismatch incase any query comes from income tax department then if I reply and share the tds return form/challan then it will be fine... right?

the problem is that it wont get resolved in the automated system and might lead to assessment which is a time consuming process. at the end of it, they can adjust the amounts. But not without a stretched process. 

Hi Nikhil, Thanks for explaining.

One last question, since I had deducted the tds in Mar'24 itself and filed the return on the entire amount.....can it be changed now?

you can make corrections to the filing. But I personally have not dealt with moving dates to a different financial year.

Hi Nikhil,

Also, is there any time limit under which these corrections can be done?

Hi Nikhil,

Also, seller can carry forward their tds to next financial year...right? If tds is credited in previous financial year but registry happens in next financial year.

@ All, please share you valuable suggestion

I have purchased the above flat for 90 lacs in my and mother name....I have made the complete payment through self funding and loan....but deducted and submitted 1% tds from my and mother both PANs i.e. 45k from my pan and 45k from mother pan (as her name is there on the registry paper) ...is this fine ?