TDS on property purchase section 194IA

502 views 1 replies

TDS on sale of property,  Section 194IA

Agreement value 80 lac, agreement date – 01.04.2023

First Instalment Payment of Rs.  10 lac is to be made to builder in oct 2023

Is it mandatory to deduct TDS @ 1%  u/s 194IA , or can I deduct later on when payment

Exceeds 50 lac.

In one case buyer paid various instalment to builder starting from 1.4.2019 and up to 15.10.2023 total 45 lac paid to builder without deducting TDS.  If we deduct TDS now  and  then there will be late fee and interest. Please suggest

Replies (1)

Dear umesh ji,

First of all see property document and see how much amount to be paid regarding the said property, and if the property value is Exact  Rs. 50 Lakh or more  then you have to require to deduct TDS @ 1% and.

  • TDS is required to be deducted only if total sale price is Rs 50 lakh or more
  • If the payment is made by instalments, then TDS has to be deducted on each instalment paid.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
ARTICLESHIP 11 July 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details