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Financial year in form26qb

TDS 339 views 3 replies

Sanjay Shirsath

26 Points Joined October 2015

Hi friends,

I had baught a prop @ 56,00,000/- in Financial Year 2014-15. Didn't know about the TDS to be deducted and hence not deducted any TDS . Now I want to submit the TDS with Interest through Form26QB. Which Financial year should I select ? 2014-15 when I baught the property or 2015-16 when I am paying TDS to the income tax dept. ?

Replies (3)

S. Shiroor

Others

1212 Points Joined July 2015

Select AY 2015-16 [FY 2014-15]

RAHULSMITTAL

Partner V Mittal & Co

252 Points Joined April 2012

My question is if you havenot deducted tds, registrar has allowed to complete registeration process? Which date you brought the property

Bunty Sharma

Student

61 Points Joined April 2014

Dear friend, As you said that u haven't filed 26QB yet. I want to bring your attention on the provision of IT act that you've to deduct tax & file return under form 26QB upto 7th of the following month in which you've made payment / contract (whichever is earlier) otherwise you've to pay interest @ 1% per month on TDS + penalty of Rs.200 per day from the date it become due.