Tds u/s 194ia

This query is : Resolved

Puneeth.H (Querist)
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03 September 2014 Dear All

The transferee of a immovable property valued 52 lakhs has to pay an advance booking amount of Rs 3 lakhs now and Rs 8 lakhs on agreement date, which is 6 months from now. So should TDS u/s 194IA be done on Rs 3 lakhs now or at the time of 'agreement to sale' date?

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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03 September 2014 Dear Puneeth,

TDS is to be deducted at the time of payment or at the time giving credit to the transferor, which ever is earlier.

Hence in present case, TDS will be deducted on advance payment of Rs.3 lacs now.

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Rupesh Jain

Rupesh Jain (Expert)
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03 September 2014 tds will deducted on payment or credit the amount to builder or seller whicher ever is earlier @ 1% .
so you have to deduct the tds.

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