TDS on Property Advance or Booking Amount

TDS / TCS 595 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
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details