My Name is Sandip Sawant & i'm Indian but Non Resident in India for last 4 Years & i did't filed Income Tax Return. I have purchased property of Rs. 75 Lakhs and till date i have paid approx Rs. 52 Lakhs slabwise payment. I did not know about TDS on immovable property & till date i didn't pay TDS on the property paid value. Recently i have received income tax notice about the unpaid TDS & 26QB is not for NRI.
So, please guid me about TDS & interest on immovable property.
24 December 2016
Pay TDS amount of 1% along with 1% interest per month or part thereof using the challan 26 QB. In your case the seller is resident Indian so 26QB applicable.
CAclubindia
