Tds on advance on property?

Hi Onkar,

TDS is deductable on accrual or payment which ever is earlier. So in your case TDS is deductable.

At present we are making some advance payment. Once we deduct & deposit TDS on it, later for some reason deal become cancelled, is the earlier deposited  Tax will refund to us or not?

Dear Mr Raghvan, that means if the deal cancelled, it will loss to us regarding TDS which we deposited earlier.