15 September 2024
Suppose my seller and I had an agreement on 4th August - property value - 70 lac And on the same day I paid an installment of 10lac (didn't deduct tds- credited full amount in his account)
And now 60lac will be paid (40 by home loan nd 20lac by me ) on date of property registration ie 3rd October
Presently current date is 15th sep
(I still have time to file 26qb ie tds payment to govt - last date 30th sep(31st August(4th August month lastdate) + 30 days)) How to go about it - should I file 26b today with 10k and 60k 26b on 3rd October and deduct 60k+10k=70k from the seller while paying him 60lac remaining together on 3rd October
Or I just don't do anything and deduct tds 70k =60k+10k on 3rd October and just file 70k lumpsum 26qb on same day and just ignore that 10lac was actually paid as installment earlier
And if I do it now 10lac has been credited so should I consider it 99% and now since 10lac is considered 99% my tds amount will be in decimal which makes the whole process cumbersome
And mind I have not yet added that seller and buyer both are joint owners
And last isn't it logical that I just file 10k now and then 60k later irrespective that I paid full amount of installment to seller as I can take the tds from him while making the final amount And just pay govt the tds for now from my account (I can reimburse from the seller)
CAclubindia
