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Financial year in form26qb

14 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. ?

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3 Replies

S. Shiroor (Others) (1207 Points)
Replied 14 October 2015

Select AY 2015-16 [FY 2014-15]

RAHULSMITTAL (Partner, V Mittal & Co) (252 Points)
Replied 14 October 2015

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)
Replied 18 October 2015

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.