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If any person purchase a immovable property after June,2013 but Part payment was done in advance in April,2013... So my question is whether assessee have to deduct TDS on what amount, whether on full payment including advance payment or on remaining payment ???? As rule of deducting TDS on purchase of Immovable property is applicable w.e.from June, 2013.....
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As per Section 194IA, TDS needs to be deducted at the time of payment to the seller or at the time of booking in books of purchaser, whichever is earlier. Therefore, purchaser has deduct TDS on payments made after 1st June'13. Moreover, if any advance payment is made before 1st June, NO TDS has to be deducted.
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