Tds on under constrcution property.
This query is : Resolved
17 September 2017
Dear Sir / Madam,
I am well aware of the TDS application from 1st June'2013 over cost of more than 50lakhs.
I also been paying 1% TDS on each installment on each construction progress. The clarification I request is that whether the TDS amount should be 1% of the installment amount? for e.g. if the installment is 2,00,000 then the 1% TDS is 2000/-, which is paid online using the 26QB form. The challan thus received is then forwarded to the builder for his reference.
Kindly advise If the above is correct procedure and if no please guide. Thanks.
Regards.
I am well aware of the TDS application from 1st June'2013 over cost of more than 50lakhs.
I also been paying 1% TDS on each installment on each construction progress. The clarification I request is that whether the TDS amount should be 1% of the installment amount? for e.g. if the installment is 2,00,000 then the 1% TDS is 2000/-, which is paid online using the 26QB form. The challan thus received is then forwarded to the builder for his reference.
Kindly advise If the above is correct procedure and if no please guide. Thanks.
Regards.
17 September 2017
The above is the right procedure.
Message likes :
1 times
19 September 2017
Thank you Sir. Good day.
19 September 2017
Welcome...............
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- REGARDING SECTION 44AE
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
