Tds on property

Raj (ABC) (84 Points)

02 September 2019  

Hello Experts,

I am facing a problem while submitting TDS on Property. Please help - 

I booked an apartment in a Builder Society on 7-Mar-2013 and at the time of booking apartment, cost was below 50 Lacs. I made payments accordingly in construction linked plan but in 15-March-2017 when builder raised FDN, it showed increased price and crossed 50 Lacs and after FDN payment when I asked Builder whether TDS will be applicable on my apartment after multiple follow-ups they replied yes it will be applicable and by that time I paid everything to Builder including TDS. 

Since then I was following-up builder to refund TDS amount which finally they have refunded on 16-Aug-2019, so please suggest while filling Form 26QB - 

1. Which Dates should I mention on Payment Info Page. There are two dates they are asking - 

a) Date of Payment/Credit

b) Date of Tax Deduction

2. Whether TDS Penalty will be applicable here? If Yes, how much?

3. Builder is only refunded TDS, should I ask the TDS penalty from Builder?

Thanks,

Raj