Deposit of Tax deducted and Demand for TDS Defaults with respect to Purchase of Immovable Property (26QB Statement-cum-challan)

Here is a important tips, for the convenience of Taxpayers, who have executed any transaction for Purchase of Immovable Property exceeding Rs. 50 Lakhs (Rupees Fifty Lakhs). Please take note of the following key details for Payments associated with filing of 26QB Statements-cum-challan and TDS Defaults, if any:

Filing of 26QB Statement-cum-Challan:

1. 26QB Statement-cum-challan can be filed (along with payment of tax), under “Form 26QB” in “TDS on Sale of Property”on the payment portal of NSDL.

26qbcommimg12. The tax to be deposited only through the Statement-cum-Challan mode (Form 26QB). No other challan, viz. Demand Payment, 280/ 281 etc. to be used for the same.

Payment against TDS Defaults:

1. On receipt of Default Intimations from CPC(TDS), the Payment against demand raised should be made through the Demand Payment link at NSDL portal, as follows:
26qbcommimg22. The payment of Demand for closure of Defaults has to be made only through the above online mode. No other challan, viz. 280/ 281 etc. should be used for payment of demand.

Disclaimer: The contents of this article are for information purposes only and does not constitute advice or a legal opinion and are personal views of the author. It is based upon relevant law and/or facts available at that point of time and prepared with due accuracy & reliability. Readers are requested to check and refer to relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc before acting on the basis of the above write up.  The possibility of other views on the subject matter cannot be ruled out. By the use of the said information, you agree that Author / TaxGuru is not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof. This is not any kind of advertisement or solicitation of work by a professional.

(Republished with Amendments by Team Taxguru)

 

RELATED POSTS ON THE TOPIC

S. No. POST TITLE
1. CPC(TDS) releases Online Correction Facility for 26QB Statements
2.

Mandatory Filing of Form 26QB by Buyer of Immovable Property

3

CPC-TDS enables online correction in form 26QB

4.

Withholding tax Impact on Property transaction by Non-Residents Indian/Foreign Nationals

5.

TDS on sale of Immovable Property- Beware CPC TDS issuing intimation for late deposit of TDS

6.

TDS on sale of Immovable Property by Non-resident

7.

TDS- Sec.194IA – Payment on transfer of certain immovable property

8.

Transfer of Immovable Property & Income Tax – A Critical Analysis

9.

Procedure for TDS Payment (FORM 26QB) and Generation of Form 16B

10.

Tds On Purchase Of Immovable Property Effective 1st June,2013

More Under Income Tax

One Comment

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

October 2020
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031