I have quick requests – I bought an apartment under construction of Rs 60 Lakes with my wife`s co-plaintiff in 2012. I paid 95% of the fee before June 01, 2013 and the contractor contract is April 24, 2013. During detention, on May 26, 2015, I paid 5% residual rest 5%, i.e. 3 lakes from my wife`s account, without deducting TDS at 5% payment. The listing does not refer to TDS, which applies to RNA sellers. That`s 20% of the total sale. TAN is needed to transfer it. No article I have read underlines this. Please add a paragraph to this most important aspect. Please read – taxguru.in/income-tax/tds-sale-immovable-property-nonresident.html my registration is now complete with the owner and my sales status is with the name of the owner. If I contacted the owner about this application, he asked me with his CERTIFICATION organization and informed me that I had to file his company`s PAN number. He has informed me that he will refund me the amount as soon as he receives the return of the government (not sure whether he will repay himself or not) I have questions below 1.My doubt is about what PAN should I pay the TDS 1%? Owner or seller? 2.Is good to deposit the TDS on Builder, even if I didn`t pay for it.
BTW on the deed of sale its number OF THE company PAN is available. As a general rule, anyone responsible for the TDS deduction must receive a TAN (tax account number). However, in the case of TDS on land, the buyer is not obliged to receive the TAN. You must specify details such as name, address, PAN, mobile phone number and electronic user of seller and buyer in Form 26QB. You must also indicate the full address of the property, along with the date of the agreement, the total value of the consideration, the date of payment, etc. The purchaser of the property must deduct the TDS either at the time of the transport file or at the time of the advance if an advance is made prior to the completion of the transportation file. The buyer must deposit the TDS amount on the central government credit within 30 days of the end of the month in which the tax is deducted. To pay for the TDS and provide other information, you must complete form-cum-challan No. 26QB. If a property has more than one buyer and/or seller, you must fill out a separate 26QB form for each buyer and seller. Information about all buyers and sellers must be provided in each 26QB form.
Assessee purchased a common property with its spouse on the sale of Rs`s counterparty.