23 May 2016
Sir, I need clarification for 194 IA TDS on Sale on Immovable property payment due date for the month of Mar-2016. For example transaction date is 01.03.2016 what is due date of tax deposit in Central Government Account . Please clarify this issue .
23 May 2016
As per sub rule (2a) of rule 30 TDS u/s 194IA is required to be deposited within seven days from the end of the month in which deduction was made. So in your case TDS was required to be deposited on or before 07.04.2016 for the month of March. This rule is amended w.e.f. 01.06.2016 in which time limit will be extended to 30 days instead of seven days but as of now it is seven days only for transactions effected during march.
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