TDS under section 194IA

[wig sinbad]

should tds @1% be deducted in case of advance paid for land immoveable property during Fin Year 2017-18; or should the TDS u/s 194IA be deposited with the revenue on the date when The sale / conveyance deed for transfer of property is registered in the jurisdictional court which will be in Financial year 2018-19.

at the time of advance payment there is some chance of the deed of sale not maturing and the advance being refunded.

[DR.MARIAPPAN GOVINDARAJAN]

TDS @ 1% is to be done at the time of advance if the value exceeds ₹ 50 lakhs

AI Summary

TDS on advance payment for immovable property: deduction required at specified rate when transaction exceeds threshold. A withholding obligation under the relevant TDS provision arises on advance payments for immovable property when the transaction value exceeds the statutory threshold; the payer must deduct 1% TDS at the time the advance is paid rather than waiting for registration of the conveyance deed.