TDS on Property Advance or Booking Amount

Tushar Sharma (MIS cum Accounts Manager and Senior Internal Auditor)   (38 Points)

16 September 2021  

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.