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1 TDS on sale above 50L

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1 TDS on sale above 50L

Last updated: April 19 2017
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  • #71

    #71

    Re : 1 TDS on sale above 50L

    Hi,

    I am buying a property from a Seller who has paid 90% of the payment. Now for TDS, I have deducted 1% from that 90% that I need to pay. I was trying to enter the details on the Income Tax website to generate challan, it ask me the details like wheteher its a installemt or its a full payment.

    1. If I do select full payment, then how will I manage the remaining 10% which I will be paying to builder as eventually that will be a installment payment.
    2. If I select as Installment, then when I decuct TDS from Builders part, I have to deposit again to Income Tax and that time the PAN number will be of Builders. But can a same property have 2 sellers as in one case I am entering Sellers Pan and in the next installment I am entering Builders Pan number?

    Please help.

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    • #72

      #72

      Re : 1 TDS on sale above 50L

      What I think even in first 90% installment you nay need to enter builder pan...check with builder how they process transfer case..few builder cencek original booking and reallote to new buyers

      Sent from my GT-I9082 using Tapatalk 4

      Comment

      • #73

        #73

        Re : 1 TDS on sale above 50L

        Folks, I was trying to register myself as Tax Payer on TRACES website to get the Form 16B but somehow every-time I have been getting "Invalid Details" error.

        I have tried out both the options (1 and 2) without any luck, register the same complaint through mail but no positive response yet.

        Have tried out several combinations but no luck so far.

        Any quick word of suggestion?

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        • #74

          #74

          Re : 1 TDS on sale above 50L

          Originally posted by arif_iq View Post
          Folks, I was trying to register myself as Tax Payer on TRACES website to get the Form 16B but somehow every-time I have been getting "Invalid Details" error.

          I have tried out both the options (1 and 2) without any luck, register the same complaint through mail but no positive response yet.

          Have tried out several combinations but no luck so far.

          Any quick word of suggestion?
          I got the answer here https://www.indianrealestateforum.co...58965&page=101

          Basically one has to provide the First Name also, don't ask me why because it's not mentioned anywhere

          Comment

          • #75

            #75

            Re : 1 TDS on sale above 50L

            cannot download form 16B

            HI,

            I made the 1% TDS payment on 1st nov and still unable to get the data reflected in Form 26AS.
            When I try to download Form 16B, it says that 'no data available for the specified search criteria'.
            Though I can verify the data via CIN based view on tin-nsdl.com.

            I contacted customer care with challan number and screenshots but they are unable to help.
            It's almost 18 days since I made the payment.

            Anyone else faced the issue and was able to resolve it ?

            Comment

            • #76

              #76

              Re : 1 TDS on sale above 50L

              Hi,

              Yes I was in the same boat. Paid TDS on Nov 2nd and nada till today. This evening however the section F of 26AS lit up with all the paid-upTDS details Have already submitted the request to download 16B. Status: pending. (I too contacted customer support and they had asked me send scanned copy of 26AS, screen capture of error message and challan etc.)

              1st week of Nov was holiday (Diwali, bhai dooj etc.) so probably there is a backlog that is slowly clearing up. I would give it another day or 2. You should see it soon.

              Hope this helps calm some nerves

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              • #77

                #77

                Re : 1 TDS on sale above 50L

                TRACES has given access to NRIs to their website using https://nriservices.tdscpc.gov.in/nriapp/login.xhtml

                But they don't give option of Form 16B in download tab. Just Form 26AS is available. Has anyone faced the issue of getting Form 16B using this NRI website? The email address given on the website for help is not responding
                Last edited May 27 2014, 04:45 AM.

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                • #78

                  #78

                  Re : 1 TDS on sale above 50L

                  Originally posted by Newbee00 View Post
                  TRACES has given access to NRIs to their website using https://nriservices.tdscpc.gov.in/nriapp/login.xhtml

                  But they don't give option of Form 16B in download tab. Just Form 26AS is available. Has anyone faced the issue of getting Form 16B using this NRI website? The email address given on the website for help is not responding

                  I am also looking for above information. May be any expert on this forum can share information in this regard.

                  Comment

                  • #79

                    #79

                    Re : 1 TDS on sale above 50L

                    Originally posted by SK2014 View Post
                    I am also looking for above information. May be any expert on this forum can share information in this regard.
                    Dear SK2014
                    u can not download the same from NRI link.

                    As, u have already logged into TRACES (NRI side in ur case), U have to request someone in India to get into the TRACES with your details and download the Form 16B.

                    The date of deposit of 1% TDS amount is being taken as the date of deposit of installment by most of the builders which is also reflected in form 16B....

                    Brgds,

                    Comment

                    • #80

                      #80

                      Re : 1 TDS on sale above 50L

                      Thanks Rashiaru!

                      Comment

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