What rate of TDS is applicable if the landowner has given Form 60 instead of PAN NO (he don't have PAN NO) for sale of immovable property.
4 Replies
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 28 July 2018
Buyer will deduct TDS @ 20% (1% is seller provide PAN) u/s 194IA If sale consideration is more than 50 lakhs.
TDS is deducted at the time of payment or at the time of giving credit to the seller, whichever is earlier.
TDS is deducted at the time of payment or at the time of giving credit to the seller, whichever is earlier.
NITIN
(Taxation)
(37 Points)
Replied 28 July 2018
Then how can we file 26QB, for 26QB PAN NO is mandatory? We have to pay TDS in 26QB challan/Return. Plz. suggest.
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 28 July 2018
PAN Number of buyer is mandatory,Not seller
NITIN
(Taxation)
(37 Points)
Replied 30 July 2018
For TDS payment (26QB Challan cum return) both PAN NO'S are mandatory... I am not able to pay TDS with only Buyers PAN.
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