TDS on Immovable Property

Chapters / List

1. What is TDS on property?

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2. Who is responsible to deduct the TDS on sale of Property?

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3. I am Buyer, do I required to procure TAN to report the TDS on sale of Property?

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4. What if I don't have the PAN of the seller, is it Mandatory?

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5. How can I use this facility to pay TDS on sale of Property?

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6. If I encounter any error on Protean website while entering the online form details what should I do?

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7. What is Form 26QB?

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8. I have filled Form 26QB and made the payment online, but I forgot to save the Acknowledgment Number generated at TIN website. From where can I get the Acknowledgment Number.?

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9. What is Form 16B?

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10. From where will I get the Form 16B?

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11. I am a buyer, whether I should deduct TDS on Property from the amount exceeding the property value of 50 Lakhs or on the whole amount of property sold?

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12. Can I make Cash/ Cheque payments for the TDS at Banks?

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13. I am a Buyer and I have filled Form 26QB before TDS payment and I have selected the option e-payment at subsequent date then how the payment made thereafter within the permissible period would be matched in the 26QB?

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14. How will transactions of joint parties (more than one buyer/seller) be filed in Form 26QB?

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15. What is Fee in Form 26QB and when is it applicable?

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16. How to make tax payment towards Fee in Form 26QB?

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17. I have entered tax amount in Fee, I am unable to generate Form 16B from TRACES website?

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18. What is the procedure for furnishing TDS through the e-tax payment option immediately after providing the transaction details?

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19. How do I know whether my bank provides this facility?

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20. What is the procedure after being directed to the net banking site of the bank?

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21. What will happen after I confirm the payment of tax at my bank’s site?

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22. What is the timing for making payment through internet?

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23. Whom should I contact if the counterfoil containing the CIN is not displayed on completion of the transaction and if I want duplicate counterfoil?

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24. What is the procedure for paying the TDS amount into the Bank subsequently, i.e. not immediately after furnishing the purchase transaction details online?

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25. What do I do if I have misplaced the Acknowledgment slip for payment through the Bank branches?

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