TDS 26QB Property Purchase- Paid in Lumpsum for 2 installments in different months

Correcting TDS .

Step 1: Pay TDS for ₹10 Lakhs Buyer 1 needs to pay TDS for ₹10 lakhs, which was paid on March 7, 2024: -

_TDS rate_: 1% of ₹10 lakhs = ₹10,000 - _Payment due date_: March 7, 2024 m

Step 2: File Form 26QB for ₹10 Lakhs Buyer 1 needs to file a new Form 26QB for the ₹10 lakhs payment: - _Challan details_: Provide the correct challan details, including the payment date and amount. - _Property details_: Mention the correct property details, including the value of ₹50 lakhs for Buyer 1. 

Step 3: Apply for Correction of Demand After filing the new Form 26QB, Buyer 1 can apply for correction of demand: - _Submit a letter_: Submit a letter to the Assessing Officer (AO) explaining the mistake and requesting correction of demand. - _Attach supporting documents_: Attach supporting documents, including the corrected Form 26QB and proof . 

Step 4: Pay Late Fee/Interest Buyer 1 may need to pay late fee/interest on the delayed payment of TDS: - _Calculate late fee/interest_: Calculate the late fee/interest payable on the delayed payment of TDS. - _Pay late fee/interest_: Pay the late fee/interest online or through a challan. 

Correcting TDS .

Step 1: Pay TDS for ₹10 Lakhs Buyer 1 needs to pay TDS for ₹10 lakhs, which was paid on March 7, 2024: -

_TDS rate_: 1% of ₹10 lakhs = ₹10,000 - _Payment due date_: March 7, 2024 m

Step 2: File Form 26QB for ₹10 Lakhs Buyer 1 needs to file a new Form 26QB for the ₹10 lakhs payment: - _Challan details_: Provide the correct challan details, including the payment date and amount. - _Property details_: Mention the correct property details, including the value of ₹50 lakhs for Buyer 1. 

Step 3: Apply for Correction of Demand After filing the new Form 26QB, Buyer 1 can apply for correction of demand: - _Submit a letter_: Submit a letter to the Assessing Officer (AO) explaining the mistake and requesting correction of demand. - _Attach supporting documents_: Attach supporting documents, including the corrected Form 26QB and proof . 

Step 4: Pay Late Fee/Interest Buyer 1 may need to pay late fee/interest on the delayed payment of TDS: - _Calculate late fee/interest_: Calculate the late fee/interest payable on the delayed payment of TDS. - _Pay late fee/interest_: Pay the late fee/interest online or through a challan. 

Correcting TDS .

Step 1: Pay TDS for ₹10 Lakhs Buyer 1 needs to pay TDS for ₹10 lakhs, which was paid on March 7, 2024: -

_TDS rate_: 1% of ₹10 lakhs = ₹10,000 - _Payment due date_: March 7, 2024 m

Step 2: File Form 26QB for ₹10 Lakhs Buyer 1 needs to file a new Form 26QB for the ₹10 lakhs payment: - _Challan details_: Provide the correct challan details, including the payment date and amount. - _Property details_: Mention the correct property details, including the value of ₹50 lakhs for Buyer 1. 

Step 3: Apply for Correction of Demand After filing the new Form 26QB, Buyer 1 can apply for correction of demand: - _Submit a letter_: Submit a letter to the Assessing Officer (AO) explaining the mistake and requesting correction of demand. - _Attach supporting documents_: Attach supporting documents, including the corrected Form 26QB and proof . 

Step 4: Pay Late Fee/Interest Buyer 1 may need to pay late fee/interest on the delayed payment of TDS: - _Calculate late fee/interest_: Calculate the late fee/interest payable on the delayed payment of TDS. - _Pay late fee/interest_: Pay the late fee/interest online or through a challan. 

Correcting TDS .

Step 1: Pay TDS for ₹10 Lakhs Buyer 1 needs to pay TDS for ₹10 lakhs, which was paid on March 7, 2024: -

_TDS rate_: 1% of ₹10 lakhs = ₹10,000 - _Payment due date_: March 7, 2024 m

Step 2: File Form 26QB for ₹10 Lakhs Buyer 1 needs to file a new Form 26QB for the ₹10 lakhs payment: - _Challan details_: Provide the correct challan details, including the payment date and amount. - _Property details_: Mention the correct property details, including the value of ₹50 lakhs for Buyer 1. 

Step 3: Apply for Correction of Demand After filing the new Form 26QB, Buyer 1 can apply for correction of demand: - _Submit a letter_: Submit a letter to the Assessing Officer (AO) explaining the mistake and requesting correction of demand. - _Attach supporting documents_: Attach supporting documents, including the corrected Form 26QB and proof . 

Step 4: Pay Late Fee/Interest Buyer 1 may need to pay late fee/interest on the delayed payment of TDS: - _Calculate late fee/interest_: Calculate the late fee/interest payable on the delayed payment of TDS. - _Pay late fee/interest_: Pay the late fee/interest online or through a challan. 

Correcting TDS .

Step 1: Pay TDS for ₹10 Lakhs Buyer 1 needs to pay TDS for ₹10 lakhs, which was paid on March 7, 2024: -

_TDS rate_: 1% of ₹10 lakhs = ₹10,000 - _Payment due date_: March 7, 2024 m

Step 2: File Form 26QB for ₹10 Lakhs Buyer 1 needs to file a new Form 26QB for the ₹10 lakhs payment: - _Challan details_: Provide the correct challan details, including the payment date and amount. - _Property details_: Mention the correct property details, including the value of ₹50 lakhs for Buyer 1. 

Step 3: Apply for Correction of Demand After filing the new Form 26QB, Buyer 1 can apply for correction of demand: - _Submit a letter_: Submit a letter to the Assessing Officer (AO) explaining the mistake and requesting correction of demand. - _Attach supporting documents_: Attach supporting documents, including the corrected Form 26QB and proof . 

Step 4: Pay Late Fee/Interest Buyer 1 may need to pay late fee/interest on the delayed payment of TDS: - _Calculate late fee/interest_: Calculate the late fee/interest payable on the delayed payment of TDS. - _Pay late fee/interest_: Pay the late fee/interest online or through a challan. 

Correcting TDS .

Step 1: Pay TDS for ₹10 Lakhs Buyer 1 needs to pay TDS for ₹10 lakhs, which was paid on March 7, 2024: -

_TDS rate_: 1% of ₹10 lakhs = ₹10,000 - _Payment due date_: March 7, 2024 m

Step 2: File Form 26QB for ₹10 Lakhs Buyer 1 needs to file a new Form 26QB for the ₹10 lakhs payment: - _Challan details_: Provide the correct challan details, including the payment date and amount. - _Property details_: Mention the correct property details, including the value of ₹50 lakhs for Buyer 1. 

Step 3: Apply for Correction of Demand After filing the new Form 26QB, Buyer 1 can apply for correction of demand: - _Submit a letter_: Submit a letter to the Assessing Officer (AO) explaining the mistake and requesting correction of demand. - _Attach supporting documents_: Attach supporting documents, including the corrected Form 26QB and proof . 

Step 4: Pay Late Fee/Interest Buyer 1 may need to pay late fee/interest on the delayed payment of TDS: - _Calculate late fee/interest_: Calculate the late fee/interest payable on the delayed payment of TDS. - _Pay late fee/interest_: Pay the late fee/interest online or through a challan. 

Correcting TDS .

Step 1: Pay TDS for ₹10 Lakhs Buyer 1 needs to pay TDS for ₹10 lakhs, which was paid on March 7, 2024: -

_TDS rate_: 1% of ₹10 lakhs = ₹10,000 - _Payment due date_: March 7, 2024 m

Step 2: File Form 26QB for ₹10 Lakhs Buyer 1 needs to file a new Form 26QB for the ₹10 lakhs payment: - _Challan details_: Provide the correct challan details, including the payment date and amount. - _Property details_: Mention the correct property details, including the value of ₹50 lakhs for Buyer 1. 

Step 3: Apply for Correction of Demand After filing the new Form 26QB, Buyer 1 can apply for correction of demand: - _Submit a letter_: Submit a letter to the Assessing Officer (AO) explaining the mistake and requesting correction of demand. - _Attach supporting documents_: Attach supporting documents, including the corrected Form 26QB and proof . 

Step 4: Pay Late Fee/Interest Buyer 1 may need to pay late fee/interest on the delayed payment of TDS: - _Calculate late fee/interest_: Calculate the late fee/interest payable on the delayed payment of TDS. - _Pay late fee/interest_: Pay the late fee/interest online or through a challan.