194 i a - tds on property - challan query

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 October 2013 AT THE TIME OF payment TDS UNDER 194IA WHICH type of tax applicable IN CHALLAN COMPANY OR NON COMPANY. 0020 or 0021.

If buyer & seller both are non co.

If buyer is company & seller is non-co.

if buyer is non-co & seller is company.

CA Parul Saxena

CA Parul Saxena (Expert)
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29 October 2013 Non company is to be marked.

Querist : Anonymous

Querist : Anonymous (Querist)

29 October 2013 thank u very much sir.

non company is marked for all option ?

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CA Parul Saxena

CA Parul Saxena (Expert)
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29 October 2013 yes non company is to be marked.

Querist : Anonymous

Querist : Anonymous (Querist)

29 October 2013 thank you very much.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 October 2013 In case the company is the buyer, then 0020 is to be selected.

Please refer: https://www.caclubindia.com/forum/form-26qb-major-head-269334.asp#.Um-miFOKK9g

http://www.moneylife.in/article/tds-payment-on-property-and-how-to-obtain-form-16b-and-26qb/34276.html

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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31 October 2013 Yes select on non company option.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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31 October 2013 Dear All,

For your information and records, the selection of code shall be on the basis of constitution of the payer.

If the payer is a company then the code shall be 0020.

In case of other entities it shall be 0021.

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Querist : Anonymous

Querist : Anonymous (Querist)

31 October 2013 thank you very much.