casdogs.blogg.se - Income tax return acknowledgement receipt download

26QB electronically within 30 days from the end of the month in which the deduction is made. Tax so deducted should be deposited to the Government through challan-cum-statement in Form No. Time Limit to Deposit TDS : TDS 1% should be deducted by the purchaser of the property on the Date of Payment or Credit to the Seller whichever is earlier.Purchase Consideration of immovable property

Threshold Limit : TDS is applicable on purchase of immoveable property wherein the sale consideration of the property exceeds or is equal to ₹ 50,00,000 (Rupees Fifty Lakhs).Ĭase studies/Examples in Tabular format for all the scenarios: –Īssumed Sale consideration is more than Stamp duty valuation of the property.

Note : – If the PAN number of the seller is not available then the TDS is required to be deducted 20%. This rate applies to all types of properties, whether residential, commercial, or industrial.

TDS Rate : The TDS rate for the purchase of immovable property in India is 1% of the total sale consideration.

Applicability: Sec 194 IA of the Income Tax Act, 1961 is applicable on any person, whether a resident or a non-resident buying any immovable property (other than agricultural land) from a resident seller.

Applicability of Sec 194IA, TDS Rate and Threshold limit: Steps to generate Form 16B/TDS Certificate :ġ. Steps to fill form 26QB through TIN NSDL Website : Steps to fill form 26QB through Income Tax website (E-Filing Portal): Documents are required to file Form 26QB :