22 May 2024
Hello, I am planning to buy a property and wanted to pay TDS through the e-paytax in www.incometax.gov.in. When filling Form 26QB, the Seller PAN was requested. On entering the PAN of the seller, i get the message "Error : User ID does not exist, Please Retry ". I have checked for the correctness of the PAN. Due to this, the data of seller does not appear and i am not able to continue with the TDS payment. Any information to resolve this issue will be very helpful. Thank you.
23 May 2024
Yes the seller PAN is active. I have logged in with my own PAN in the incometax website. Only the seller PAN is not registered on the income tax website. Is the seller PAN also required to be registered in incometax website for the forms to be filled?
23 May 2024
Thank you for the clarification. 1. The property value is 2 Cr. The stamp duty could be another 13 Lakhs. In this case TDS should be paid on 2 Cr which would be 2 Lakhs or on 2.13 Cr which would be 2.13 Lakh? 2. If the share is divided between husband and wife, it would be 2 26QB forms. Should the TDS amount go from respective bank accounts or the amount can be paid by one account although 2 forms are submitted? 3. In case of 2 26QB forms, should the stamp duty also be divided and paid separately or can be made as one transaction?
23 May 2024
1. Stamp duty is not included for filing Form 26QB. Just get value of the property as per circle rate, as TDS will be deducted over higher of these two values. 2. Yes, two forms with individual share in property. It can be paid through either of the account/s. 3. No restriction on either.
23 May 2024
just to add, Stamp duty value mentioned in the Form 26QB referes to Property value as per Stamp Duty and not Stamp Duty Paid amount, so in case you are dividing the Property value then proportionate value of Property value as per stamp duty is to be mentioned.
23 May 2024
Thank you Dhirajlal Rambhia and Bhavik for your inputs. I am little confused. 1. Since there will be 2 26QB forms of say 1Cr each, the stamp duty value of the property in each of the 26QB forms will also be 1Cr. Correct? 2. If this is done then during registration, should we make 2 separate stamp duty payments for 1Cr each or can we pay stamp duty directly for 2Cr? 3. Submission of 2 26QB is a must or can i simply mention no Co-buyer and pay alone, however the sale deed will have 2 names as purchasers?
23 May 2024
If Total Value of Property is say 2 Crores and name of second co-owner is mentioned just for security purpose (generaly in case of husband-wife, where entire consideration is paid by husband ) in such cases you can fill one Form 26QB of 2 Crores and select more than one buyers but if incase consideration for the property is paid by both the Buyers then 2 form 26QB is to be filled and in a ratio as per consideration paid or mutually decided
23 May 2024
You would mean fill one form and do "not" select more than one buyer? Because as soon as I select more than one buyer, the website mentions to fill a second 26QB form. Also just filling one form would not raise issues with IT officer or during registration, since all online material shows that as many forms have to be filled as many buyers/sellers are present.
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