Tds on property u/s 194 ia
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 June 2014
Dear Experts,
I have following queries on TDS u/s 194IA on buying property:-
1. Property is bought for say Rs.60,00,000.i.e. the Sale Consideration mentioned in the Agreement.
2. Rs.20,00,000 is paid in 4 Installments say Rs. 5,00,000 say on 30/5/14, 5/6/14, 10/6/14 and 15/6/14 being the own contribution.
3. Date of Registration of Agreement is on 20/6/14.
4. Bank Loan will be paid on say 30/6/14.
Now whether only one Form 26QB will be issued to the seller for Rs.60,000 or multiple Form 26QB will be issued for each payment made in Installment.
Thanks
I have following queries on TDS u/s 194IA on buying property:-
1. Property is bought for say Rs.60,00,000.i.e. the Sale Consideration mentioned in the Agreement.
2. Rs.20,00,000 is paid in 4 Installments say Rs. 5,00,000 say on 30/5/14, 5/6/14, 10/6/14 and 15/6/14 being the own contribution.
3. Date of Registration of Agreement is on 20/6/14.
4. Bank Loan will be paid on say 30/6/14.
Now whether only one Form 26QB will be issued to the seller for Rs.60,000 or multiple Form 26QB will be issued for each payment made in Installment.
Thanks
Nikhil Kaushik
(Expert)
19 June 2014
advisable to submit form 26QB on each tds deduction...
Message likes :
1 times
Rupesh Jain
(Expert)
19 June 2014
IF YOU DEDUCT THE 1% ON FIRST PAYMENT THEN YOU ISSUE SINGLE.'
OTHERWISE ISSUE FOR EVERY DEDUCTION.
OTHERWISE ISSUE FOR EVERY DEDUCTION.
Message likes :
1 times
24 June 2014
yes submit form 26QB................................
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