Hi While filling Form 26QB I'm seeing few queries
Total Sales Consideration is 66 lacs
date of Agreement : 20th Oct 2023
Tentative date of Registry : 5th Dec 2023
My Wife has paid 5L to first Seller and 5 Lac to Second Seller on 20th Oct
I have paid 5L to first Seller and 5 Lac to Second Seller on 4th Nov
Balance 45,34 Lac will be paid through Joint Home Loan after adjusting TDS amount of 66000 on 5th December 2023
my queries are as below:
1. No of 26QB ? Do we need to file 8 TDS forms or 4 TDS Forms?
2. interest calculation of TDS in my wife's 26QB against payment made in Oct 2023, As i have not deducted TDS at that time (I was not aware)
3. interest calculation of TDS in my 26QB against payment made in Nov 2023, As i have not deducted TDS at that time (I was not aware)
4. What value should I fill in "Total Value of Consideration" --- 33 lac ?
5. What value should I fill in "Total Stamp duty Value of Property" ---- 16.5 lacs?
6. What Payment Type should I consider : Installment/ Lumpsum ?
Just as u/s 32 where "use" could mean actual use or ready for intended use, even in the case u/s 31 for repairs of plant and machinery does the word "use" have the same two meanings as given for depreciation?
In such case if I have a plant and machinery ready for its intended use but I have not actually used it in the year even for a single day, then can I claim any repairs incurred on it as deduction in such previous year, by considering it as passive use?
Does passive use always mean "ready for intended use" or does it also mean irregular use?
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