I have a query regarding 1% TDS Rule on Sale of Property:
I am selling immovable residential property in Mumbai whoose Market valus is above 50 Lakhs
Suppose if the sale amount is received in part payment as follows
5% earnest money on 19 March 2016, 20 percent on 01 April 2016 at agreement to sale , 70 percent at Sale deed on 08 May 2016 , 5% on Possesion on 09 July 2016
Then should the tds be deposited on receiving the final payment at possession or at every payment from earnest money to final payment.
If the payment is made on 19 march then whats the maximum time to deposit the tds