Tds on sale of property

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2016 Dear Experts,

I have purchased a property on 12 august 2014 . The flat i have purchased is based on construnction link payment scheme.Till now i have made payment upto 94 lacs and no money has been deposited as tds .What is the remedy , what should i do now..

Rupesh Jain

Rupesh Jain (Expert)

16 June 2016 you have to deposit the tds with intt. and file 26Q and issue form 16B to builder. intt will 1.5% per month from the date of deduction to deposit month. but intt not more than TDs amount. like that for 26QB

you can see detail

blog.cleartax.in/time-limit-extended-depositing-tds-sale-property/

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2016 Sir I haveto file 26 QB for each Installment or I can file single 26QB for entire transaction

Rupesh Jain

Rupesh Jain (Expert)

16 June 2016 now if you can file one 26QB or many its better you file for each challan.

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