06 December 2017
sir thanks for your reply..... For eg: If property is selling for Rs.60 lakhs then tds to be deducted @ 1% = Rs.60000 the seller is senior citizen & is income from other sources is less then basic limit (no other income) & tds not deducted by buyer, then how the seller need to calculate tax & pay to gov and if seller invest upto Rs.50lakhs of consideration in gov bond then how much he need to pay.....
06 December 2017
Buyer should have made payment less TDS. As he has not deducted TDS, the seller will fill form 26QB online on NSDL website and after filling up the form correctly, submit it online an acknowledgment cum challan will be generated. Payment of TDS may be made through net banking or manually through bank counter.
06 December 2017
1.Registering authority ( sub-registrar) will not execute the document unless proof of 1% tax payment (Form 26QB) is produced before him.
2. More details required to calculate the tax liability of seller.
CAclubindia
