under section 194ia if some advance amount of sales consideration has been received and the sales consideration exceeds Rs. 50 lakhs then the liability to deduct tds will arise on which date and on what amount, i.e. tds will be deducted on date of advance received or on registery of property.
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Section 194ia
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On the date of advance recd... Since tds is applicable at the time of credit or payment whichever is earlier..
Dear Mam,
you are required to deduct TDS at the time of making payment to the account of the seller... when that amount exceeds Rs. 50 lakh.. on that date... not when the registration is completed for that property..
Best Regards,
CA Lovely Arora
Lovely Arora and Associates
ca.lovelyarora @ gmail.com
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