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Form 26QB query

171 views 2 replies

dhaval khetiya

53 Points Joined January 2017

I have purchased property of Rs. 60 lakhs on 07/07/2017 and payment made on installment basis.

say
1. on 07/07/2017 paid Rs. 5 lakhs.
2. on 08/09/2017 paid Rs. 10 lakhs.
3. on 12/12/2017 paid Rs. 10 lakhs.
4. on 01/03/2018 paid Rs. 5 lakhs. and so on...

I didn't deduct TDS till now.
I want to deduct TDS in my next installment and installment amount of Rs. 10 lakhs.
My question is

Can I deduct tds on full amount of Rs. 60 lakhs or only Rs. 10 lakhs or Rs. 40 lakhs?

Single Form 26QB can I file?

Replies (2)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208756 Points Joined July 2016

You are required to deduct & pay TDS over each insallments paid and to be paid......... i.e. for total of 60 lakhs........ For earlier payments along with interest.......

abeertiwari

310 Points Joined September 2011

TDS on immovable property should be deducted as and when amount is paid....so you have to deduct TDS for each payment....now you have to pay interest and late fees....for each default...