Dear Experts,
As we are aware of the section 194IA (TDS on immovalbe property) which says that the TDS of 1% is deductible on or after 1st June, 2013 if net consideration exceeds Rs. 50 lacs.
In this case the deductor is not required to get TAN. Than how will he deposit the TDS amount?
Whether the deductor is required to file TDS returns?
And what about other TDS provisions? Is the deductor of TDS u/s 194IA required to comply with all the TDS rules u/s 194IA?
You asked for ? to deposit without TAN.
The deductor has to issue Form 16A once he deducts the amount. Then how will the deductor issue Form16A.
To issue form 16A the deductor has to file return also.
To file the return also the deductor should have TAN No.
Please note that the department has come up with a new form for such TDS payments. There is no necessity for TAN of the deductor.
!!! is the new form.
Please support yourself with relevant circulars / notifications/ sections.
Such support will be useful to others -gain knowledge.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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