Tds on apartment with value more than 50l

Yes, tds has to be deducted on all the three payments and paid now. 

As for late fees , if you have sufficient documentary evidence to prove your point then dont pay it otherwise you will have to.

TDS FOR PAYMENT MADE IN ISTALMENTS

As per section 194ia tds is required to be deducted at the time of payment. date of transfer is irrelevent as TDS is not required to deduct at the time of transfer.

POINT OF TAXATION

at the time of credit of such amount to the account of transferor (booking in the books). (or)

at the time of credit of payment of such sum in cash or issue of cheque.

Jaya, not sure if i get your point. As i mentioned earlier, the value of property was less tha 50L. So there was no reason to deduct TDS at that pont. The value has gone up with increase in area. Can you clarify your point?

on transfer deed how much amount u disclosed wether 48 lakhs (or) 50 lakhs. TDS is required to be deducted based on the amount desclosed in transfer deed.

TDS also required to be deducted even payment made in advance.

I am buying this apartment directly from builder. So on the allotment letter/builder buyer agreement the price is 48L. But now in final demand the area has been increased and price is 50L. 

at the time of acquisatation of property how much u diclosed.

TDS is required to be deducted based on the amount desclosed in transfer deed.  you said that the amount disclosed on agreement is 48 lakhs so there is no need to deduct TDS.
it is advisabe that u can maintain previous transfer deed now u can enter new contract for improvement of property in this case only ur required to be deducted only on 2 lakhs amount (under section 194c)

what is the transfer deed here ? can you clarify. As per my under understanding transfer deed will be done at the time of registration. This was an under construction property. 48L is mentioned on builder buyer agreement. The amount that will be mentioned on transfer deed(at the time of registration) will be 50L

Transfer deed means registration documents.At the time of registration how much amount u desclosed.

in registration documents 50 lakhs descolsed u r required to be deduct tds.

Registration is yet to be done. The amount disclose in registration will be more than 50L. Yes i need to deduct TDS. The confusion is about interest. If you go through my original question it will help. 

yes u liable for interest. 

(generally ur not liable for interest if there is any agreement availabe with regarding consideration 48 lakhs. If the tax department asks u can show that agreement.but in this case so many litiagtions involved  it is advisable that u can pay interest amount. if u want face that problems ur not liable pay interest.)

i have the agreement which says 48L. So i guess i dont need to pay. Thanks for help.

Also just for my information, in case i decide to pay, how to calculate the interest. I read somewhere it is 20 rs per day

i have the agreement which says 48L. So i guess i dont need to pay. Thanks for help.

Also just for my information, in case i decide to pay, how to calculate the interest. I read somewhere it is 20 rs per day

1% interest for the delay of every month i.e. Late deduction of tax from the date the tax was deductible to the date the TDS is deducted. (in this case ur not deducted tds for this reason-1%). (if ur deducted not paid 1.5%)