TDS u/s 195 (Agreement date & Registration date)

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1 Points Joined May 2022

Assessee purchase property from NR with below details:-

Agreement Date- 25.12.2021

Sale Consideration- 5500000

Advance payment- 2100000 (23.12.2021)(TDS not deducted)

Registration - May 2022

Balance payment- 3400000 (Yet to be released) (Lower rateTDS)

Qustion- TDS U/s 195 to be deducted in which FY & on what amount ?

Replies (2)

788 Points Joined December 2020

TDS to be deducted on 23.12.2021 on Rs. 21 lakhs. Next TDS to be deducted while making payment of Rs. 34 lakhs.

CFO- at NHTF

58280 Points Joined August 2012

Since it is covered by Section 195 , you must deduct tax on each payment

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