Dear Sir/Madam,
Recently I have bought a property whose agreement cost is more than 50L. So I am required to pay the 1% TDS to the Income Tax. However I am a bit confused. I am an individual person and this is a personal purchase.
I am not a deductor and does not have TAN. I think I need to fill Form 26QB by my PAN only. Moreover a friend told me that I need to file quarterly returns only after which Form 16B will be available for download.
I think IT Dept should project Form 16B under my IT/Traces login I suppose without me filing any quarterly returns I suppose and I need to login to Traces as Individual.
Could someone confirm please.
I have also seen the guideline here https://www.incometaxindia.gov.in/Pages/tds-sale-of-immovable-property.aspx which is official IT India site and it seems there's no mention of buyer filing any IT returns for purpose of getting Form 16B
Kind regards and thanks in advance.
CAclubindia
