Tds on purchase concede ration.
This query is : Resolved
30 December 2013
Respected all,
I (individual) purchased a house site on 02-06-2011 and paid (to individual) an amount of Rs 3750000/- on 31-05-2011 to NRI without deducting TDS. Now i received a notice u/s 201(1) for defaulter u/s 195. Now my dought is, AM I LIABLE TO PAY TAX?I am not having any TAN Number. How can i pay tax?
Balu
I (individual) purchased a house site on 02-06-2011 and paid (to individual) an amount of Rs 3750000/- on 31-05-2011 to NRI without deducting TDS. Now i received a notice u/s 201(1) for defaulter u/s 195. Now my dought is, AM I LIABLE TO PAY TAX?I am not having any TAN Number. How can i pay tax?
Balu
02 January 2014
For depositing TDS on transfer of immovable property, TAN is NOT required.
The seller has to mention his PAN & the PAN of the buyer in the challan.
The seller has to mention his PAN & the PAN of the buyer in the challan.
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