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Unitech Anthea Floors by Unitech Developers in Sector 70, Gurgaon

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Unitech Anthea Floors by Unitech Developers in Sector 70, Gurgaon

Last updated: January 18 2017
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  • Re : Unitech Anthea Floors by Unitech Developers in Sector 70, Gurgaon

    yes thats what the process is... Refer instructions below for details

    ************************************************** ******************

    We refer to our earlier communication in reference to section 194IA introduced in the Income-tax Act, 1961 with effect from June 1, 2013 requiring 1% tax withholding (‘TDS’) by the buyer of immovable property (other than agriculture land) of Rs. 50 lakhs or more.

    1% TDS will be required to be made at the time of credit or payment, whichever is earlier. The 1% TDS so deducted is required to be deposited with the government treasury within 7 days from the end of the month in which the tax is deducted by you.
    In this connection, the income-tax authority (Central Board of Direct Taxes) has vide Notification dated May 31, 2013, prescribed the procedure to be followed by the buyer of immovable property for making 1% TDS.
    The notification has prescribed as below:
    · Challan cum Statement (Form 26QB) has been prescribed for 1% TDS payment by the buyer: https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
    · 1% TDS payment has to be made electronically only, by the buyer. ‘Payment electronically’ means payment by internet facility or by using debit card. To make the payment, please log on to NSDL-TIN website (www.tin-nsdl.com)
    · Buyer has to furnish to the income-tax authorities Form 26QB electronically, within seven days from the end of the month in which tax deduction is made.
    · Buyer has to furnish to the seller a certificate of deduction of tax at source (Form 16B) within 22 days from the end of the month in which 1% TDS has been withheld by the buyer. The Form 16B is to be generated from the income tax web portal by the buyer and furnished to the seller duly signed.
    · The Notification received from the government, along with the Challan cum Statement (Form 26QB) and Form 16B can be viewed on the link alongside: http://incometaxindia.gov.in/archive/Notification_S.O.1404(E)_03062013.pdf
    Based on the aforesaid please provide us Challan cum statement (Form 26QB), the Challan Counterfoil containing Identification number as generated online from Bank Portal once the e-payment is made evidencing payment of 1% TDS along with the cheque for the balance amount (i.e. the amount mentioned in the demand notice less 1% TDS deposited by you in the government treasury). Further, provide us duly signed Form 16B generated from the income tax web portal.

    Comment


    • Re : Unitech Anthea Floors by Unitech Developers in Sector 70, Gurgaon

      i recently bought an apartment and paid TDS & deducted it from the payment i had to make to the seller

      Comment


      • Re : Unitech Anthea Floors by Unitech Developers in Sector 70, Gurgaon

        Thanks roughrider for your help

        Comment


        • Re : Unitech Anthea Floors by Unitech Developers in Sector 70, Gurgaon

          Originally posted by roughrider View Post
          yes thats what the process is... Refer instructions below for details

          ************************************************** ******************

          We refer to our earlier communication in reference to section 194IA introduced in the Income-tax Act, 1961 with effect from June 1, 2013 requiring 1% tax withholding (‘TDS’) by the buyer of immovable property (other than agriculture land) of Rs. 50 lakhs or more.

          1% TDS will be required to be made at the time of credit or payment, whichever is earlier. The 1% TDS so deducted is required to be deposited with the government treasury within 7 days from the end of the month in which the tax is deducted by you.
          In this connection, the income-tax authority (Central Board of Direct Taxes) has vide Notification dated May 31, 2013, prescribed the procedure to be followed by the buyer of immovable property for making 1% TDS.
          The notification has prescribed as below:
          · Challan cum Statement (Form 26QB) has been prescribed for 1% TDS payment by the buyer: https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
          · 1% TDS payment has to be made electronically only, by the buyer. ‘Payment electronically’ means payment by internet facility or by using debit card. To make the payment, please log on to NSDL-TIN website (www.tin-nsdl.com)
          · Buyer has to furnish to the income-tax authorities Form 26QB electronically, within seven days from the end of the month in which tax deduction is made.
          · Buyer has to furnish to the seller a certificate of deduction of tax at source (Form 16B) within 22 days from the end of the month in which 1% TDS has been withheld by the buyer. The Form 16B is to be generated from the income tax web portal by the buyer and furnished to the seller duly signed.
          · The Notification received from the government, along with the Challan cum Statement (Form 26QB) and Form 16B can be viewed on the link alongside: http://incometaxindia.gov.in/archive/Notification_S.O.1404(E)_03062013.pdf
          Based on the aforesaid please provide us Challan cum statement (Form 26QB), the Challan Counterfoil containing Identification number as generated online from Bank Portal once the e-payment is made evidencing payment of 1% TDS along with the cheque for the balance amount (i.e. the amount mentioned in the demand notice less 1% TDS deposited by you in the government treasury). Further, provide us duly signed Form 16B generated from the income tax web portal.
          Please confirm then that the TDS has to be cut in the payment of final installment (usually on possession) to the builder for under const projects and not in all installments.

          Comment


          • Re : Unitech Anthea Floors by Unitech Developers in Sector 70, Gurgaon

            as per my understanding, people invested in under const projects are deducting it as a part of every installment. Refer Spaze Privy 93, Anant Raj maceo threads...i read it some time back

            Comment


            • Re : Unitech Anthea Floors by Unitech Developers in Sector 70, Gurgaon

              Guys I have been looking for a distress deal for some time now here fr a small floor.. still getting quoted for 9 + premium for ordinary units and 10 on good units..

              Any body knows a broker who has any distress deal if a all in this project?

              Thanks in advance.

              Comment


              • Re : Unitech Anthea Floors by Unitech Developers in Sector 70, Gurgaon

                Hi Amit, What premium are you targetting to enter this project. My broker had a 2nd floor (191 sq yard) at 8.5 Lac. Let me now if you are intrested, I can then share my broker contact details with you.

                Comment


                • Re : Unitech Anthea Floors by Unitech Developers in Sector 70, Gurgaon

                  Mate i am looking only first floor only that too good units in low density..

                  Comment


                  • Re : Unitech Anthea Floors by Unitech Developers in Sector 70, Gurgaon

                    Quite right ... ok units r offered at 9+ and good 0ne at around 10L for first floor.

                    Comment


                    • Re : Unitech Anthea Floors by Unitech Developers in Sector 70, Gurgaon

                      Market main distress ka shor hain - so i have identified few projects where i will be looking to pick up in case any distress deal come my way

                      CHD 71
                      Anthea Floors
                      Emaar Projects on GCX
                      IVV 2 BHK

                      Willing to wait toll 2014 to get god deals.

                      Comment

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