Form No 26QB-TDS on Sale of Property

Himanshu Bhavsar (CA in Practice) (38 Points)

29 July 2021  

Query:

A Client has purchased property of Rs.3.60 crores. Its first installment is of Rs.20 lakhs and TDS is deducted @ 1% which is Rs.20000. 

Can the client pay Rs.20000 of TDS before actual making the payment of installment of Rs.20 lakhs to the builder.

i.e. TDS is paid in the month of July-2021 and Rs.20 lakhs are paid subsequently in the month of Aug-2021 and Sep-2021 respectively.

Kindly guide.