TDS on advance amount paid to builder
This query is : Resolved
20 April 2025
Should I pay TDS on advance amount paid to builder before executing sale agreement on property purchase? The total value of the property is more than 50 lakhs. Also in the case of joint buyers and one seller if the total property value is 60 lac what is the total value of consideration to be entered in form 26qb for each of the buyer. Is it 60 lac in both form 26qb or 30 lac in each form.
20 April 2025
1. Yes,
2. Rs. 30 lakhs for each purchaser.
2. Rs. 30 lakhs for each purchaser.
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22 April 2025
Thank you for your reply. The builder is saying that TDS for past instalments can be paid with current date as the deduction date.Is that correct.
22 April 2025
Technically it is possible, but in case of scrutiny it may not be allowed.
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