TDS u/s 195 (Agreement date & Registration date)

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22 Points Posted on 13 May 2022

Assessee purchase property from NR with below details:-

Agreement Date- 25.12.2021

Sale Consideration- 5500000

Advance payment- 2100000 (23.12.2021)(TDS not deducted)

Registration - May 2022

Balance payment- 3400000 (Yet to be released) (Lower rateTDS)

Qustion- TDS U/s 195 to be deducted in which FY & on what amount ?

 

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On 13 May 2022 at 17:35 Report
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Quick Summary
This discussion clarifies the timing and amount for TDS deduction under Section 195 when purchasing property from a Non-Resident (NR). The consensus is that TDS should be deducted on the advance payment made on 23.12.2021, even though the registration occurred later. Further TDS will be applicable on the balance payment when it's released.

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486 Points Posted on 13 May 2022
TDS to be deducted on 23.12.2021 on Rs. 21 lakhs. Next TDS to be deducted while making payment of Rs. 34 lakhs.
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On 13 May 2022 at 23:02
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CFO- at NHTF
15022 Points Posted on 15 May 2022
Since it is covered by Section 195 , you must deduct tax on each payment
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On 15 May 2022 at 07:30

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