Tds on sale of property
This query is : Resolved
TARIQUE RIZVI
(Querist)
08 December 2015
Sale Value of Property Rs 70,00,000 Purchase value Rs 63,00,000/-
Profit Rs 7,00,000/=
Some one has told me that the Tds @ 1% Rs 70,00,000/= shall be cut down on account of TDS but how to pay TDS as I dont have TAN Please guide me and oblgie
Read more at: https://www.caclubindia.com/experts/ask_query.asp
Profit Rs 7,00,000/=
Some one has told me that the Tds @ 1% Rs 70,00,000/= shall be cut down on account of TDS but how to pay TDS as I dont have TAN Please guide me and oblgie
Read more at: https://www.caclubindia.com/experts/ask_query.asp
Nikhil Kaushik
(Expert)
08 December 2015
tax is to be deducted from gross payment by the buyer and deposited against his PAN.
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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