Tds on property purchase

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2014 My query is that if someone has paid booking amt. on aug 2013 and balance amount in Sep,Oct & Nov in diff installment.So, is it require to fill different 26QB for each installment. But buyer has deducted TDS from last installment.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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02 January 2014 As per Section 194-IA TDS is required to be deducted at the time of credit or payment, whichever is earlier.

Accordingly TDS is required to be deducted at the time of each payment.

Since you have deducted TDS only from the last installment, only one Form 26QB will be filed.