Tds on sale of property

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

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