RAKESH KUMAR BEHERA (STUDENT) (185 Points)06 October 2016
total Money is paid by me.
I want to deduct TDS on that,
what I have to do?
From June 1st 2013, when a buyer buys immovable property (i.e. a building or part of a building or any land other than agricultural land) costing more than Rs 50lakhs, he has to deduct TDS when he pays the seller. This has been laid out in Section 194-IA of the Income Tax Act.
26Q is form under which TDS on other than salary is to recoreded. & for TDs on House property is to be filed in form 26QB
you dont need to file 26QB because your property value is less than 50 lac
Replied 07 October 2016
RAKESH KUMAR BEHERA
Replied 08 October 2016
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