Sanjay (Service) (81 Points)
17 February 2020Year 2014: Apartment booked with builder on Construction Linked Payment Plan.
Consideration Amount of Property on Agreement = 49 Lacs. TDS not paid on any installment as consideration value is less than 50 lacs.
Year 2020: Possession of apartment offered.
Builder sends final invoice with increased super floor area, New Consideration Amount = 52 Lacs.
Will TDS be applicable now? Is it to be paid on only 52-50 = 2 lacs or on complete 52 lacs.
Is any penalty / interest applicable in TDS.
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 17 February 2020
The TDS have to be paid on the entire consideration of Rs. 52 Lacs.
Interest shall be applicable on the late payment of TDS.
Chhatra Singh Dugar
(1464 Points)
Replied 17 February 2020
CAclubindia
