13 April 2023
My brother who is NRI is planning to sell his property and he knows buyer needs to deduct 20% plus surcharge from amount of consideration and if buyer deducts in the month of April and deposits the deducted amount in same April month and He also wants to get TDS certificate in the month of April. My question is: Is it possible to deduct, deposit, generate and issue 16A in the month of April ? Because after registration of property in the name of buyer he does not want to chase buyer for 16A. Please suggest? Thank You Sir for your reply, But Is it possible to file the TDS Return in April and generate 16A in April. Because this is one off case of TDS for the buyer, thanks
13 April 2023
He can issue the payment receipt, but not TDS certificate in Form 16A. As the same can be downloaded after filing first quarter return for FY 2023-24. Last date to file return for Q1 is 31st July. So only in first week of August you can get it.
14 April 2023
No. Not possible to file TDS return for Q1 in April. The case remains same if you sell in first week of April or Last week of June. Well, its responsibility of the TDS deductor to comply the formalities, and seller/ deductee should not worry for the TDS amount deducted. Moreover, the sell deed reflects the amount deducted by purchaser.
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