Dear Friends
X sold a property to Y for Rs. 1 crore on 10-Dec-12.
Now Y needs to deposit TDS of Rs. 1 lakh via challan 26QB.
My questions are
1 What is the last date for Y to deposit challan?
2 Does money need to be paid from Y account only or he can pay TDS using the net banking of his wife Mrs. Y.
Regards
shivani
Hi Shivani,
Answer for No.1: Within 7 days from the end of the month in which it was deducted (Because it is 10-Dec-12). But now (From 1-Jun-2016) due date is revised to 30 days from the end of the month in which TDS deducted.
Answer for No.2: He can pay from any A-Z.
one more question if property is bought on 10-Dec-18 then while filing challan, buyer needs to select which assessment year?
regards
shivani
CAclubindia
