Hi,
I (individual) am purchasing an under-construction property from a builder (corporation). There is a construction linked payment (CLP) schedule. Builder is asking me to deposit TDS based on the CLP. They have sent me all the details and a document with screenshots to show how to ePay TDS
I go to incometax eportal > login > ePay Tax > Form 26QB.
• I enter my PAN, all the details in the greyed out boxes are correct. I click Continue.
• In next screen, I enter builder's PAN. The category of the PAN (which is a greyed out box) shows "Company". I click continue.
• In next screen, the tax applicable (Major head) is showing Corporatoin Tax (0020).
The builder's screenshot shows it needs to be Income Tax Other Than Companies (0021).
I want to understand when an individual pays TDS through Form 26QB to a builder, should the major head be 0020 or 0021? Thank you.
CAclubindia
