WebITR Filing. Search. 1% TDS on Sale of Property u/s 194IA in 2024 (Detailed Guide) TDS on Sale of Property is levied @ 1% on transaction of all properties where the total transaction value is more than Rs. 50 Lakhs. The manner of levy of TDS on Property has been explained in detail in this article. WebSep 9, 2024 · TDS Form : Certificate Of: Due Date: Form No. 16A : TDS on non-salary Payments : 15 days from the due date of filing of TDS return : Form No.16B : TDS on Sale/transfer of Immovable property : 15 days from the due date of filing of TDS return : Form No.16C : TDS on Payment of Rent U/s 194-IB : 15 days from the due date of filing …
A Guide To TDS Payment Of Property Sale - Vakil Search
WebApr 8, 2024 · Once the payment is made the bank will let you print challan 280 with a tick on (800), which is payment of TDS on sale of property. Take a printout of the challan and keep the same for your records and for the builder/seller if required. This is the first phase of the process. There is also alternative mode payment if one does not have online ... WebIf you have to pay INR 5000 in TDS on March 1st, but you pay it on June 30th, the cumulative penalty will be INR 200 x 122 days = INR 24,400. Since the assessed penalty is greater than the real TDS number, i.e. INR 5000, you will only be eligible to pay INR 5000 in late filing fees. Interest on Late Payment of TDS china shrinkable tube
How to make payment of TDS on sale of property
WebFeb 11, 2024 · TDS on sale of property Q 1.What amendments have been proposed to section 194-IA by Finance Bill,2024 as regards deduction of TDS by buyer of immovable property from payments to seller? Ans. Example 1 Consideration as per Builder Buyer Agreement/Agreement to Sell:Rs.48 Lakhs Stamp Duty value: Rs.50 Lakhs Example 2 WebDue date of TDS Payment and Form 26QB The deductor i.e the purchaser of property has to file form 26QB which is a Challan cum declaration statement within 30 days from the end of the month in which payment is made. No separate TDS return is to be filed in respect of such deduction. WebFeb 4, 2024 · TDS is required to be deposited by the buyer within 30 days from the end of the month in which it was deducted The TDS is to be deposited by the buyer along with Form 26QB stating the PAN of the … china show of force military image