Tds on sale of property
This query is : Resolved
TARIQUE RIZVI
(Querist)
08 December 2015
Sale Value of Property Rs 7,00,000/-
Purchase value Rs 63,00,000/-
Profit Rs 7,00,000/=
Some one has told me that the Tds @ 1% Rs 70,000 shall be cut down on account of TDS but how to pay TDS as I dont have TAN Please guide me and oblgie
Purchase value Rs 63,00,000/-
Profit Rs 7,00,000/=
Some one has told me that the Tds @ 1% Rs 70,000 shall be cut down on account of TDS but how to pay TDS as I dont have TAN Please guide me and oblgie
08 December 2015
The buyer need not require TAN. 1% tax to deduct by the buyer. Challan cum statement (form 26QB) has to be e-filed by the buyer.
CA CS Jainam Shah
(Expert)
09 December 2015
Yes you have to deduct and pay TDS @ 1% of total consideration. You need not required to have TAN for payment of TDS. You should go to following link and fill the form 26QB.
https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
If you find any query there then you can contact me @ca.jainam@gmail.com
https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
If you find any query there then you can contact me @ca.jainam@gmail.com
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