banner_ad

TDS on Property Advance or Booking Amount

TDS 567 views 1 replies

Dear All,

Please Guide me in below mention Query- 

1. I had done the booking of one property and given 10% booking amount (or Say Advance amount) on the same, shall I need to deduct TDS on the same.

2. What if, in future the property deal doesn't execute due to some reasons like financial, technical or any else, and I need to return that booking amount, then what about the TDS amount that deducted, I deducted while paying booking amount.

Waiting for your valuable guidance.

 

Replies (1)

1. Yes. You need to withhold tax

2. You can consider claiming refund of TDS from the Government. Alternatively, you can ask the builder to give you entire amount and he claiming credit of TDS from Government


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details