I have booked a flat in a building under construction. I have paid all the instalments of the consideration value along with GST and TDS. At the time possession, I am required to make some additional payments like Infrastructure development, society formation, Electricity Connection and Gas connection etc. And I am also required to pay TDS on these payments. I would like to know under what account heads these TDS payments should be made.
Thanks
As per section 194 IA of the Income Tax Act, 1961, any fees for club membership, parking, power or water facilities, maintenance, advance payments, or other similar fees that are ancillary to the sale of the real estate are included in the consideration for the transfer of any immovable property.
Hence, TDS shall be deducted on all these amounts u/s 194 IA.
In case of any further queries, kindly mail me at casoravgupta @ gmail.com
Thanks & Regards
CA. Sorav Gupta
(Practicing Chartered Accountant)
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