Good Afternoon,
TDS is to be deducted @1% on sale consideration i.e. agreement value of Purchase of House Property from resident seller. My query is that when this TDS to be paid. I have already paid stamp duty and registration amount on 28th Feb 2020 and part payment is already made to the owner i.e. Rs. 1000000 in two tranches in March 2020. My loan of Rs. 5500000 is yet to be disbursed.
My query is that when TDS of Rs. 65000 needs to be paid i.e. will it be paid when Final sale deed will be executed or when loan amount disbursed or can i make TDS now before loan disbursement right now.
Please give your valuable suggestions. Also let me know the process of paying TDS and filing of 26QB and generation of form 16B.

Thanks & regards

We have a partnership firm in Hyderabad and have obtained GST number.
We want to start a new division related to coconuts and Pooja items.
Do we have to obtain a new GST number for this?
We need urgent clarification please.

Can a partner withdraw his share of profit from a registered firm ,amounting to Rs 300000 , in cash?

sir
guide me - Should the freight be paid by the seller or buyer or it is optional under GST ?
thanks in adv

Can a partner withdraw his share of profit from a partnership firm amounting to Rs 300000, in cash?

one of my client who is State Govt. Dept. has given quarry on lease for extractions of minerals etc...and in contract there are number of terms and conditions and one such conditions is if the lessee violates any conditions, the lesser will impose penalty on lessee...Do i have to collect TCS under section 206 (1C) imposed on lessee who have been caught in illegal mining and quarrying in other words is TCS applicable on penalty on defaulters kindly guide us with ur expert opinion

What is the procedure to form a Local chapter of an existing trust? What are the legal documentations to be done? Whether the Local chapter to be formed as a trust or an association?

one of the client is involving in renting of non-air conditioned bus for occasions like marriages, engagement. So what would be the rate of GST required to be charged as client is not taking ITC on service procured.

DIVIDEND SHOWS BUT NOT RECEIPT MOSTLY IT WAS RE-INVESTED. Will it include in my total income in balance sheet and show it as exempted income in ITR? I am confused and please clear.

Dear Sir,

I am a Tax consultant and used to file my Income tax return U/s. 44AD under individual capacity.

I earn contract income and TDS gets deducted under section 194C which is reflected in my Form 26AS.

From this F.Y. 2020-21, I will be earning a Rent income as well from Commercial property on which TDS will be deducted under Section 194I.

My query is whether I will now be able to file return U/s. 44AD as now I have rent income as well which is considered as business income since it is from commercial property. I will be showing 2 types of Income in my Profit and Loss. Is the 20 lacs turnover limit for GST registration applicable for rent income from commercial property as I am not registered under GST.

Please help me to resolve this matter.

Regards,
Divyesh Jain