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    TDS Tutorial - Adhiraj

    Uploaded by

    ShailendraShukla
    This document provides a 7-step guide to depositing TDS on a property purchase in India: 1. Go to the TDS payment portal and select the Form 26QB for payment of TDS on sale of property. 2. Fill out the form with taxpayer information, property details, and payment details. Be sure the date of payment and tax deduction are the same to avoid penalties. 3. Submit the form and pay the tax amount through your bank. Save the e-tax acknowledgment number for your records. 4. Verify the payment in your and the seller's 26AS in 2-3 days and download the TDS certificate from TRACES.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    TDS Tutorial - Adhiraj

    Uploaded by

    ShailendraShukla
    58 views8 pages
    This document provides a 7-step guide to depositing TDS on a property purchase in India: 1. Go to the TDS payment portal and select the Form 26QB for payment of TDS on sale of property. 2. Fill out the form with taxpayer information, property details, and payment details. Be sure the date of payment and tax deduction are the same to avoid penalties. 3. Submit the form and pay the tax amount through your bank. Save the e-tax acknowledgment number for your records. 4. Verify the payment in your and the seller's 26AS in 2-3 days and download the TDS certificate from TRACES.

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    TDS Tutorial - Adhiraj (1)

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    This document provides a 7-step guide to depositing TDS on a property purchase in India: 1. Go to the TDS payment portal and select the Form 26QB for payment of TDS on sale of property. 2. Fill out the form with taxpayer information, property details, and payment details. Be sure the date of payment and tax deduction are the same to avoid penalties. 3. Submit the form and pay the tax amount through your bank. Save the e-tax acknowledgment number for your records. 4. Verify the payment in your and the seller's 26AS in 2-3 days and download the TDS certificate from TRACES.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    58 views8 pages

    TDS Tutorial - Adhiraj

    Uploaded by

    ShailendraShukla
    This document provides a 7-step guide to depositing TDS on a property purchase in India: 1. Go to the TDS payment portal and select the Form 26QB for payment of TDS on sale of property. 2. Fill out the form with taxpayer information, property details, and payment details. Be sure the date of payment and tax deduction are the same to avoid penalties. 3. Submit the form and pay the tax amount through your bank. Save the e-tax acknowledgment number for your records. 4. Verify the payment in your and the seller's 26AS in 2-3 days and download the TDS certificate from TRACES.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 8

    How to deposit TDS on Property Purchase?

    (Step by Step Guide)


    Step by step guidance about how to make payment of demand of interest on TDS on
    Property purchase:

    Step1:-

    • Go to following link - https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp

    Step2:-

    • Following window as shown in the image will open showing different e-payment options.

    • Here scroll towards botton and select Form 26QB Payment of TDS on sale of Property.

    Step3:-

    • Now it will open Form 26QB. The form has four parts -
    o Taxpayers Info
    o Address
    o Property Details
    o Payment Info
    • Fill each part carefully. first part is Taxpayers info.
    • Here first thing you need to select is Tax Applicable - Select Income Tax (other Than
    Companies). The other option is to be selected by companies.

    • Financial Year & assessment year will be filled automatically according to the date of
    paymnet.

    • Make sure to enter correct PAN of buyer & seller. Name of buyer & seller will appear itself
    on the confirmation page.

    Step 3 continued:-

    • Next part is address of buyer & seller with PIN code.

    • If property is purchased in joint name you have to select yes for more than one buyer,
    similarly if sold by more than one seller select yes. In case of single name select NO.
    • Filling all the details carefully click on proceed.
    Step 3 continued:-

    • Next is details of Property. Here you have to select from drop down if the property is land
    or building etc.

    • Now next is address of property purchased/sold with PIN code.

    • Date of on which you have entered into agreement to buy the property will be entered in
    Date of booking/agreement.

    • Total purchase price of the property is total value of consideration.

    • Now payment type means how the property is purchased in lumpsum or in installment.
    Step 3 continued:-

    • Now details of amount paid on which TDS is being deposited is to be entered. Enter the
    amount of installment paid on which TDS is deducted & deposited.

    • For details of tax deposited, first enter the amount of installment. Then TDS rate will be
    1%. Now basic tax will be 1% of the amount of installment. calculate it yourself & enter.
    Step 3 continued:-

    • Now its time for bank details. Select your bank from drop down.

    • You also need to select mode of payment (net banking or debit card).

    • Important Note: Here the most important thing to note is that the date of payment
    and date of tax deduction should be same. If your date of payment is earlier then
    the date of tax deduction there will be a late fee applicable. So you will attract a
    demand notice of late fee for delay in deduction of tax.

    • Finally Form 26QB is filled, enter the captcha code & submit.
    Step 4:-

    • Submitting above details will take you to confirmation page.

    • Here you will be able to see the financial year, assessment year & name of buyer & seller.

    • If your are satisfied with the details filled in 26QB confirm and move forward.

    Step 5:-

    • Confirming the details will now take you to the final page similar to the one in image below.
    Here an E-tax acknowledgement number will be generated. Save this number as this
    number will be needed if there is any problem in payment or any demand arises.

    • Clicking submit on this page will take you to your bank's website.
    Step 6:-

    • On the Bank page you need to enter the amount of tax on the Basic Tax (Income Tax).

    • Confirming it & completing the bank formalities completes your tax payment.

    Step 7:-
    • You can view the amount of TDS in your 26AS & your seller can view the TDS in his 26AS
    in 2-3 days of payment.

    • You can download TDS Certificate (Form 16B) after 2 days of payment by logging on to
    TRACES Website. Log in to TRACES can be created on this link (copy & paste the url in
    your web browser):

    https://www.tdscpc.gov.in/app/login.xhtml

    Name of the Transferor : ADHIRAJ CONSTRUCTIONS PVT LTD


    303 SHARDA CHAMBERS, 15 NEW
    Address :
    MARINE LINES, MUMBAI - 400020.
    Permanent Account No. (PAN) : AACCA3372Q
    This will be automatically generated in the
    Category of PAN and Form when PAN No. is filled in. PLEASE
    :
    Status of PAN ENSURE TO FILL IN
    CORRECT PAN No.
    Mobile No. : 9821024065

    E-mail ID : [email protected]

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