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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Gurgaon > TDS on Immovable Property from 1st June,2013
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Old September 6 2013, 03:48 PM   #621
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Default ireo creates a help desk to facilitate its customer to deposit TDS

May be we can request other builders to provide similar facilities, I am sure it will be helpful to many.

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This is further to our communication informing you about implication of Notification No.39 dated 31st May’ 2013 under Income Tax Act. The Central Government has introduced applicability of TDS (withholding tax) w.e.f. 1st June, 2013 where in Customer is to remit 99% of the invoiced amount directly to IREO towards installment and withhold & deposit 1% of invoiced amount towards withholding tax in the repository account designated by Income Tax Department.

To facilitate our customers at large, we at IREO have appointed SOLVATO INDIA, an external consultant, as a HELP DESK for online submission & deposit of withholding tax on behalf of our customers. Suggested guideline for the same is explained as under;

· Customer to remit 99% of the invoiced amount directly to IREO’s designated account as installment payment and remaining 1% representing withholding tax to a “Separate Account” in favor of Solvato India, A/c no. –
· Customer must furnish copy of PAN along with the above cheque, to enable SOLVATO to deposit withholding tax on his/her behalf. (this is applicable only in those cases where PAN no. details are not with IREO ; in-case the property is in joint/multiple names, PAN of all the allottees is required)
· On receipt of the credit in the designated account; SOLVATO shall deposit withholding tax and provide Acknowledgement copy along with necessary receipts to both - customer as well as IREO within 21 days.
· SOLVATO shall ensure that withholding tax is deposited within 7 working days time for the date of credit of money in the designated account provided above. However; in case the amount deposited in SOLVATO account is dis-honored for unavoidable reasons; the deposition of withholding tax will not be the responsibility of SOLVATO.
· Customer is not required to pay any charges for this service.

The proposed HELP DESK is created to facilitate customers at large on withholding tax complications; though the primary responsibility for depositing the withholding tax remains with the customer. Should you need any further clarification, feel free to get in touch with us CRM TEAM

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Old September 6 2013, 04:05 PM   #622
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Was really happy to see this initiative by IREO.
No more head-breaking on TDS for me !!

Quote:
Originally Posted by kinjalchato View Post
May be we can request other builders to provide similar facilities, I am sure it will be helpful to many.

----------------------------
This is further to our communication informing you about implication of Notification No.39 dated 31st May’ 2013 under Income Tax Act. The Central Government has introduced applicability of TDS (withholding tax) w.e.f. 1st June, 2013 where in Customer is to remit 99% of the invoiced amount directly to IREO towards installment and withhold & deposit 1% of invoiced amount towards withholding tax in the repository account designated by Income Tax Department.

To facilitate our customers at large, we at IREO have appointed SOLVATO INDIA, an external consultant, as a HELP DESK for online submission & deposit of withholding tax on behalf of our customers. Suggested guideline for the same is explained as under;

· Customer to remit 99% of the invoiced amount directly to IREO’s designated account as installment payment and remaining 1% representing withholding tax to a “Separate Account” in favor of Solvato India, A/c no. –
· Customer must furnish copy of PAN along with the above cheque, to enable SOLVATO to deposit withholding tax on his/her behalf. (this is applicable only in those cases where PAN no. details are not with IREO ; in-case the property is in joint/multiple names, PAN of all the allottees is required)
· On receipt of the credit in the designated account; SOLVATO shall deposit withholding tax and provide Acknowledgement copy along with necessary receipts to both - customer as well as IREO within 21 days.
· SOLVATO shall ensure that withholding tax is deposited within 7 working days time for the date of credit of money in the designated account provided above. However; in case the amount deposited in SOLVATO account is dis-honored for unavoidable reasons; the deposition of withholding tax will not be the responsibility of SOLVATO.
· Customer is not required to pay any charges for this service.

The proposed HELP DESK is created to facilitate customers at large on withholding tax complications; though the primary responsibility for depositing the withholding tax remains with the customer. Should you need any further clarification, feel free to get in touch with us CRM TEAM
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Old September 6 2013, 04:33 PM   #623
 
 
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Quote:
Originally Posted by BlessU View Post
Hi
Greetings

It keeps showing

"Site is not available due to technical reasons"P... C...

https://www.tdscpc.gov.in/

Cheers
Hi
Greetings

Still unable to download 16b

https://www.tdscpc.gov.in/

Am I missing something

Great effort by IREO, setting new service levels for real estate industry.

Cheers
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Old September 6 2013, 04:46 PM   #624
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Quote:
Originally Posted by BlessU View Post
Hi
Greetings

Still unable to download 16b

https://www.tdscpc.gov.in/

Am I missing something

Great effort by IREO, setting new service levels for real estate industry.

Cheers
I could open this website but how to download 16B... there is no such form and it seems you need to login as deductor to do anything in this website. deductor registration require TAN...
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Old September 6 2013, 05:07 PM   #625
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Originally Posted by LordSauron View Post
Not following this thread since last few days, so not sure if you guys already knew this. Just checked my form 26AS and it seems they have appended a new section (part F) regarding TDS deducted on sale of property (for buyer) which contains acknowledgment no. and TDS certificate no. of the transaction. This is specially beneficial for people like me who did not have acknowledgment no. and were on the mercy of builder / seller for providing them by looking into their form 26AS (I've requested my builder 3 weeks back and followed up with them thrice but to no avail).
Anyways, once armed with acknowledgment no. the whole process of registering on TRACES website, requesting download form 16B, downloading and printing it didn't take more than 15 mins! The process worked like clockwork. Though I guess I owe thanks to some of you for pestering IT department and making the process for late-comers like me a cakewalk.
What is form 26AS? How did you register on TRACES website? I requires TAN to register as deductor. How did you download 16B?
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Old September 6 2013, 05:42 PM   #626
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Originally Posted by amitgup View Post
What is form 26AS? How did you register on TRACES website? I requires TAN to register as deductor. How did you download 16B?
You can also register on the website as Tax Payer and you only require PAN for that. Though for authentication, it ask you details about any challan that you have filed for self-assessment tax or some detail from your form 16.
Form 26AS has details of tax deducted by other parties on payments made to you (e.g. TDS on salary) and tax you've deducted on payments made to other parties.
You can download form 26AS from the TRACES website, once you have signed up. Alternate way of downloading form 26AS is through net banking (some banks have link for downloading form 26AS based on PAN) and e-filing website of Income Tax department.

Once you've registered on TRACES website, there is a link for download form 16B. You have to put in request for generating the same and you require acknowledgment no. of TDS payment for the same. Download link was available within 10 mins of filing my request.

Hope I'm able to clear some of your queries.
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Old September 6 2013, 07:03 PM   #627
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Invaluable service for buyers especially NRIS...

I hope all the builders will come with this kind of inititives as this a major pain in the as* especially for NRI buyers.

1 10/10 move by IREO

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Originally Posted by sh-saxena View Post
Was really happy to see this initiative by IREO.
No more head-breaking on TDS for me !!
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Old September 6 2013, 07:12 PM   #628
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Originally Posted by amit001 View Post
Invaluable service for buyers especially NRIS...

I hope all the builders will come with this kind of inititives as this a major pain in the as* especially for NRI buyers.

1 10/10 move by IREO
The purpose of this forum will be served if using such examples, we can try persuading other builders to do the same and if even one or two are able to do it will be great.

I am sure every builder has some good benchmark like the way emaar shares the status ( for some projects atleast ) , the way Tata always tells the reason for delays very much in advance for instance ( 2 times they have shared transparently with cust ) .

will encourage all to share the communication or good practices with other by sharing more such information
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Old September 6 2013, 07:12 PM   #629
 
 
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Quote:
Originally Posted by negi2013 View Post
I didn't deduct TDS on my two installments in june and july, as I was not aware of it then. I talked to builder about it. They agreed that I deposit the TDS (in august)on those installments and provide form 16B for these two payments along with next installment. I can adjust the TDS amount in next installment due in september. So my next installment is actual installment - 1%TDS - 1%TDS on earlier two installments. If you go through form 26QB, you will see it mentions date of payment and date of tax deduction. As per IT dept, you need to deduct TDS on each payment. Also interest which you pay has to be entered in interest tab in form 26AB, builder still gets form 16B without any interest amount.
Rest depends on understanding between your builder and you. But what I understand is there has to be form 16B for every payment
I am trying to pay the TDS for the payment made in June, but i am not able to proceed further & i am getting the error -

Mismatch in total amount paid/credited .


I have checked the amounts, they r correct . Any explanations ????
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Old September 6 2013, 08:00 PM   #630
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Did you put the 0s after decimal i.e Rs 1000 has to be put as 1000.00

The only time I tried the process, it didnt take it, till I put the 0s after decimal.

Quote:
Originally Posted by MANOJa View Post
I am trying to pay the TDS for the payment made in June, but i am not able to proceed further & i am getting the error -

Mismatch in total amount paid/credited .


I have checked the amounts, they r correct . Any explanations ????
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