Covid19 Alert : Keep Social distance and utilize your time by joining CA CS CMA online classes at 30% disc Coupon: SAFE30 Call : 1800-3000-0505

TDS on purchase of house property


Divya Priya (student)     22 February 2020

Divya Priya
student 
 10 likes  249 points

| My Other Post

My friend is going to buy house for 97 lakhs , total sale consideration . He is also applying loan for 50lakhs. He gave advance of 20lakh and sale agreement was made on 20th Feb 2020. How and when tds to be deducted ? And before which date the deducted tds to be paid to government and by seller or by buyer?

avater

Eswar Reddy S (CFO- at NHTF)     25 February 2020

Eswar Reddy S
CFO- at NHTF 
 139 likes  2952 points

View Profile | My Other Post

You can deduct at the time of each payment.

Else in the next payment you must consider entire value and Tds @ 1% on 97lacs.

So Tds will be 97000/-

There will be challan cum Tds return -26QB for immovable property.

There will be 30days time from 1st March if Tds deducted in February.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »