If we purchase 10flats and each flat cross 50 lacs but initially we release 10 lacs of each flat as a token money TDS is required to deduct ??, if we donot deduct on token money as when we release further payment we will deduct TDS on both the payment is it possible because if transaction get cancelled we donot get the refund in token money. If we will not deduct TDS on token money & deduct TDS on next payment after considering total amount including token money Pls clarify.
Tds on sale of property section 194ia
Replies (1)
As you are paying token money you need to deduct tds. The balance can be deducted after allotment or payment for flats. As you arr paying you need to deduct tds on the 10 lakhs token money.
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