one question - while filling up the 26QB from incometax site , I am not getting the option to select the Tax Applicable (Major Head) as 0021. I am getting it is default as Corporation Tax (0020). What to do for this case.
Good info, but this is just straight forward info as many people are doing the videos on same info, we need cache info like what scenarios we need to select installment options, how much proportionate value basis number of joint buyers, how to calculate penalty on late tds filing etc that will be value addition to your video especially person like me also where we stuck up with some late tds cases and searching a lot for right info, any way thanks for basic info atleast
agree title is misleading, nothing new has been shown. This info is simple to explain but different scenarios are not explained, specially in case of joint buyer. I have seen many you tube videos but none of them give a clear idea in terms of what should be sale consideration, how to fill in case of instalments etc.
At the Screen 3 (Add Property Transferred Details), Amount Paid/Credited Currently (B) video time 4:49 : Should it be the same value as total sale consideration ? In your example case, the consideration is 60 Lakhs, but you will pay the seller only 59,40,000 and then pay 60,000 as the TDS, then the total will become Rs. 60,00,000 : Correct ? So, should you fill 59,40,000 in Amount Paid/Credited Currently (B) field ?
I have received an update that has left me somewhat puzzled. While it is typically the responsibility of the Seller to remit a TDS of either 1% or 0.75% to the Government, we are now facing a situation where the Seller is requesting us to cover this TDS on their behalf. This is because we are remitting only 99% of the total agreement amount to the Seller, not the full 100%. Consequently, we are now accountable for the remaining 1% of the amount, which we are paying on the Seller's behalf. This adjustment stems from the Seller's circumstances rather than the Buyer's. This is why the prominent code we're encountering is 0020, as the Seller is a corporate entity, and we are redirecting the Seller's amount to the Government
SIR if anyone forget to deposit the TDS payment on installments and his final considerration was paid in july 2023, does he need to file multipal 26QB for each installment or only one form to be file ?
Sir, in case of purchase in multiple installments running in 2 financial years, when TDS is to be paid if date of agreement is in first FY (after last instalment or during each instalment proportionately or else).
Dear Sir, when we are purchasing property in Joint name, it says the second buyer must also fill form 26QB, but then the payment how will that be split ?
one question if buyer are two but amount is getting paid via 1 buyer and loan is also on basis of salary of 1 buyer then also we need to select more than 1 buyer?
when I tried to go for payment then I selected debit card mode after payment initiated option is showing but i did not get any deduction could you please help me
thanks sir for detailed explanation.have 1 query. 1)if agreement value is of 1cr and there are 2 buyers(60% & 40% ration) and 1 seller. So in form 26qb i have mentioned 60Lacs for 1 buyer and 40Lacs for 2nd buyer in below fields. Is this correct? Total Value of Consideration (Property Value) * Amount paid/credited currently (B) * Total stamp duty value of the property (C) * 2)Also the 1% TDS Amount is not coming automatically for me,so i do need to manually enter and move ahead?
@@CommerceWale_Official thanks sir for confirmation, but it is not allowing to move ahead - "Warning : Please enter proportionate share of Stamp Duty Value" & 1% TDS Amount is not coming automatically , do we need to manually enter and proceed?
I have purchased resale flat for 69 lacs. The property is in joint. Me and my wife. Now i want to pay TDS of 69,000/-. How do I do that? I am going to show 50-50% tds. 34,500 tds from my account and 34,500 tds from my wife's acoiunt. Plz guide me.
In case of 2 buyers and 1 seller for flat costing Rs 2 Cr, I am filling 2 forms. In each form what should be "Total value of consideration" and what should be "Total Stamp duty value of property" ?
Thanks for the guidance. What about the LAST and Final installment. Here “Amount on which TDS is to be deducted (D)” is showing a total stamp duty value (C) or sum of previous amount paid (A) and Current amount paid (B). In my case A+ B is same as C. The D should show amount of B but showing full stamp duty qmount C. This is final installment. How to calculate TDS. So far all TDS installments paid perfectly and processed by IT. Few others in comment section requested same question. Please address TDS on final installment in case of single buyer and single seller. Searched so many TH-cam videos but no one addressed this final tds installment topic. I am not sure if it’s portal error or shall we need to enter exact 1% TDS manually as per final installment irrespective of amount mentioned in column D. Please address this topic. Thanks a lot!
I have paid complete amount to seller after deducting 1 percent tds. In the field Amount paid/credited currently, it should be amount including tds or excluding tds
I received a notice with defaults u/s 200A. Is it because I mentioned "Amount paid/credited currently" as 25,00,000/- but I deducted Rs25,413 as TDS Amount. Pata nahi kyu TDS Amount field editable hai. Please advise, agar mein 26QB Correction file kar doon tou mujhe defaults amount Rs 132. hai wo nahi pay karna hoga
in my case there is 2 buyer and 2 sellers on paper, but i want to pay TDS from my account only and the seller also wants to pay full TDS amount on his name. is it possible ?
Thanks for information but one doubt is pls clarify if husband and wife are joint owner and there is no percentage share mentoned in the agreement then what process we should follow?
Sir, if property value is 1crore, and i am taking home loan of 50 lak, then total value of property and stamp duty value will cone as 1crore, and amount paid currently will cone as 50lak, but tds amount will be given as 1lak?
If the property is taken on joint names then you informed to fill two 26QB form but then how to fill the TDS of 1 % . how can we fill the amount as if we put 1% divided by two it will not accept. Please advice on payment of TDS for 2 buyers while filling two 26QB form
Hello, am unable to understand why the major head for tax is 0020 Corporation tax, it should be 0021 Income Tax. What happens if we fill under 0020, will it be treated as a default under 0021 ? Also the AY is by default selecting as date of he property purchase and not the instalment date, how should we change this ?
@@CommerceWale_Official sir maine payment try kia pehle initiated dikaya fir no response from bank aa rehaa to kya naya chalan generate kru paymnt deduct nhi hui bank se
This is to download the certificate. But when you make late payment and you have defaulted. How to pay late payment fees with interest and fine. for form 26qb.
@@CommerceWale_Official Thank you. I paid the TDS without paying the interest and late fee. Now I have received a Demand with a deadline of 30 days to pay. Do you have any guidance video on that?
Can you explain this with example, consider property price is 60L, 2 sellers are there, so i need to fill first 26QB for 30L amount for 1 seller & for second 30 L? Or for both 60 L we can show?
Sir, Ye property purchase krne k pehle pay krna h k baad mein??? Aur baad mein to kitna baad …Jaise maine next month property purchase krni h to kb tk pay kr skta hu??? Kindly reply sir
Hello Sir, If there are two buyers (50%-50% share) and one seller. And total property value is 1 Cr. then in Property value and Stamp duty value, do we have to mention 50 lakh each in each of the Form 26 QB (Filled by by each buyer)?
I am seller and I am filling the form with my login. First page shows my details as buyer details since its my login. Is there way I can modify the same
What is the difference between total value of consideration and total stamp duty value of the property? Is stamp duty value of property same as 6% stamp duty paid ? Can you please clarify?
Total value of consideration is total amount paid for the property Total stamp duty value is property value as per stamp duty valuation Normally both are the same..
While submission of TDS on purchase of property ,the major head is auto selected as corporation tax 0020 instead of individual tax 0021. Kindly tell what to do ?? There is no option of changing that tax Code.
Hi, very useful video, just one query..if there r 2 buyers and property value is of 80 lacs, so tds wl be 80k. Both the buyers have to login with their PAN and pay 40 k each?? Or one person only can make payment fully..pls clarify
Sir, after adding seller details when I’m continuing it doesn’t take me to next page ! Why ? I’ve restarted/cleared all cookies and done everything still same issue! Tried with multiple different gadgets including 3 laptops still same issue! Not able to move to the next page! Why this issue ? Anyone facing the same issue here ?
I am filing TDS for every Installment without any issue. But this time suddenly, Tax Applicable on 26QB is categorized as Corporation Tax (0020) instead of Income Tax (0021). Why is that?
I have received an update that has left me somewhat puzzled. While it is typically the responsibility of the Seller to remit a TDS of either 1% or 0.75% to the Government, we are now facing a situation where the Seller is requesting us to cover this TDS on their behalf. This is because we are remitting only 99% of the total agreement amount to the Seller, not the full 100%. Consequently, we are now accountable for the remaining 1% of the amount, which we are paying on the Seller's behalf. This adjustment stems from the Seller's circumstances rather than the Buyer's. This is why the prominent code we're encountering is 0020, as the Seller is a corporate entity, and we are redirecting the Seller's amount to the Government
Nice video ❤. I had purchased a flat. i am trying to file the tds for my property( 26qb tds on sale property) but in the tax code section it is automatically selecting tax code 0020 instead of 0021. What to do? Please guide me
Thanks for this video. Please guide how to pay TDS for more than one buyer? In my flat, my wife is a co-owner but the payment is being made by me from a home loan. Can you guide what to do with her form 26QB? Do I need to pay TDS from her account too?
In my case , the Resale property there are 2 Buyers and 2 Sellers and total lumpsum consideration value is Rs.54 lacs. So total 4 nos. 26QB needs to be filled. The 26QB considers only stamp duty value for 1% TDS calculation to be paid while filling the form. So will I have to input Total Value of Consideration (Property Value)- Rs. 54 lacs or Rs. 13.50 Lacs? Further, the Amount paid/credited currently (B) - Rs. 13.50 lacs and Total stamp duty value of the property (C) *- Rs. 13.50 lacs so that 1% TDS is Rs. 13,500/- for each 26QB Form so that the aggregate TDS is Rs. 54,000/- which is 1% of total lumpsum consideration - Rs. 54,00,000/-. Is this Correct? , Just kindly confirm the value for each of 4 nos. 26QB forms- Total Value of Consideration (Property Value) *, Amount paid/credited currently (B) and Total stamp duty value of the property (C) * Note : The market value/ circle rate from Sub- registrara office is Rs. 53 lacs. And I have have the stamp duty 7% on Agreement consideration amount Rs. 54 lacs.
@@PrabhatKumar-je2ot apparently, 0020 is correct. The value is autopopulating based on the PAN type linked to seller. If your seller is a company, then it will populate as 0020. If it's an individual, it'll populate as 0021. Try it out. I filled with 0020.
I bought a house @60,00,000 with my wife ..i was generating two 26 QB form of 30,00,000 each. So i filled Total Value of Consideration (Property Value) : 30,00,000 1 have paid in lumpsum Amount paid/credited currentlv (B) : 30,00,00 Total stamp duty value of the propertv (C): 30,00,000 But i am getting this • Warning: Please enter proportionate share of Stamp Duty Value. What i am filling wrong here?
To me it is showing Tax applicable as 0020 (corporation tax), it should show as 0021 as I am an individual not a company. This site is full of defects.
Form 16B for TDS on sale of Property - watch this
th-cam.com/video/UWAXMVPxQCc/w-d-xo.html
one question - while filling up the 26QB from incometax site , I am not getting the option to select the Tax Applicable (Major Head) as 0021. I am getting it is default as Corporation Tax (0020). What to do for this case.
Continue with the same..
Ek dum clear and no time pass ...tnx bhai
Very useful and I have paid the TDS as you guided, thank you
Good info, but this is just straight forward info as many people are doing the videos on same info, we need cache info like what scenarios we need to select installment options, how much proportionate value basis number of joint buyers, how to calculate penalty on late tds filing etc that will be value addition to your video especially person like me also where we stuck up with some late tds cases and searching a lot for right info, any way thanks for basic info atleast
agree title is misleading, nothing new has been shown. This info is simple to explain but different scenarios are not explained, specially in case of joint buyer. I have seen many you tube videos but none of them give a clear idea in terms of what should be sale consideration, how to fill in case of instalments etc.
What should be the amount paid/credited currently if the 10lac loan is yet to be disbursed by bank?
At the Screen 3 (Add Property Transferred Details), Amount Paid/Credited Currently (B) video time 4:49 : Should it be the same value as total sale consideration ? In your example case, the consideration is 60 Lakhs, but you will pay the seller only 59,40,000 and then pay 60,000 as the TDS, then the total will become Rs. 60,00,000 : Correct ? So, should you fill 59,40,000 in Amount Paid/Credited Currently (B) field ?
Both will be 60 Lakhs only
@@CommerceWale_Official Ok, thank you
@@kiranravinuthala5846
Sir I'm not understood. Questionnaire asked right it should be 5940000. Please clarify.
u are a saviour man, thanks
5:05 how come Property Value and Stamp duty is same??/
Dost 60l ki property me stamp duty max 7 p hoga ,
60 l kyoun fill kiya ??
For me after clicking on continue while adding seller datails nothing is happening
Sir, Seller name is not auto populating. What should I do?
When I’m trying to do, it is auto selecting Corporation Tax (0020) and not 0021. What can be done to select 0021?
Same for me as well. Any workaround found?
Lol same for me as well, looks like a defect
If you go previous it shows 0021 for a fraction of time but then gets overwritten with 0020..
@soothein are u still facing this issue
I have received an update that has left me somewhat puzzled. While it is typically the responsibility of the Seller to remit a TDS of either 1% or 0.75% to the Government, we are now facing a situation where the Seller is requesting us to cover this TDS on their behalf. This is because we are remitting only 99% of the total agreement amount to the Seller, not the full 100%. Consequently, we are now accountable for the remaining 1% of the amount, which we are paying on the Seller's behalf. This adjustment stems from the Seller's circumstances rather than the Buyer's. This is why the prominent code we're encountering is 0020, as the Seller is a corporate entity, and we are redirecting the Seller's amount to the Government
i am not able to see 26oq form under my e tax section
STAMP DUTY SAME AS PROPERTY VALUE KAISE AAYEGA IT IS AROUND 6% AAYEGA JO AGREEMENT KE INDEX-II ME RAHEGA
Hamare pass TAN number hai to kya hum TAN number se login karke tax pay karenge....
TDS amount not showing automatically by system. Can we enter the amount and proceed further?
Yes
SIR if anyone forget to deposit the TDS payment on installments and his final considerration was paid in july 2023, does he need to file multipal 26QB for each installment or only one form to be file ?
Sir, if you got the info, please share.
In case of home loan kaise bharein?
Sir, in case of purchase in multiple installments running in 2 financial years, when TDS is to be paid if date of agreement is in first FY (after last instalment or during each instalment proportionately or else).
During each installment
Byer और co buyer कितना कितना भरना है ये तो बताया ही नहीं
Good and perfect Informative video. Thanks to the team.
Sir bank se finance kraya h matlb bank pay krega builder ko jb jb need lgegi usko to us case m lumpsum select krna h ya installments
Dear, mera by default 0020 (corporation tax aa raha hai...
What to do???
Very useful and timing video
Unable to proceed further in the next page for filing seller details
Were you able to solve this problem?
Thank you. Very helpful video.
Informative...Thank you
Isme chalon ka status unclaimed aa rha hai
Dear Sir, when we are purchasing property in Joint name, it says the second buyer must also fill form 26QB, but then the payment how will that be split ?
Watch this..
th-cam.com/video/F8yB2KK1mqw/w-d-xo.html
60 lakh ki property pe 60 lakh stamp duty kaise hoga?
Hello sir. Yeh hone ke baad ITR mein bhi isko dikhana hota hai kya
Please share if you got the info
one question if buyer are two but amount is getting paid via 1 buyer and loan is also on basis of salary of 1 buyer then also we need to select more than 1 buyer?
Sir mere pas 6 year ka registry deatail and transaction detail mnga ja raha or mere iski details na ho toh kitna fine lg sakta h
if its two buyers, do we need to split the TDS amount? what about the amounts like property value for consideration?
did you know the answer?
@@shardulpatel4326 yes we need to split
How can I get refund of 26QB which is shown status as fully consumed in case of cancellation of agreement with the Builder/Promoter
th-cam.com/video/JZYbu0g9j_w/w-d-xo.html
Very helpful information 👍👍
Bhai Agar main onwer Indian ho and genral power of attorney beti ke naam ho jo NRI ha..
To Tds mother ke naam katega ya dono k naam pe?
when I tried to go for payment then I selected debit card mode after payment initiated option is showing but i did not get any deduction could you please help me
In case of multiple buyers & sellers (50-50), we fill 4 forms, yes, but will we pay tax 4 times too?
Yes
thanks sir for detailed explanation.have 1 query.
1)if agreement value is of 1cr and there are 2 buyers(60% & 40% ration) and 1 seller.
So in form 26qb i have mentioned 60Lacs for 1 buyer and 40Lacs for 2nd buyer in below fields. Is this correct?
Total Value of Consideration (Property Value) *
Amount paid/credited currently (B) *
Total stamp duty value of the property (C) *
2)Also the 1% TDS Amount is not coming automatically for me,so i do need to manually enter and move ahead?
Correct
@@CommerceWale_Official thanks sir for confirmation, but it is not allowing to move ahead - "Warning : Please enter proportionate share of Stamp Duty Value" & 1% TDS Amount is not coming automatically , do we need to manually enter and proceed?
Hello Sir, If i want to pay TDS in advance then what date of payment should i select as form does not allow us to select future date
Same issue. This video doesn’t address all the practical situations and is only for ideal situations
I have purchased resale flat for 69 lacs. The property is in joint. Me and my wife. Now i want to pay TDS of 69,000/-. How do I do that? I am going to show 50-50% tds. 34,500 tds from my account and 34,500 tds from my wife's acoiunt. Plz guide me.
What if there are 2 buyers and 2 sellers?
Video available on channel
In case of 2 buyers and 1 seller for flat costing Rs 2 Cr, I am filling 2 forms. In each form what should be "Total value of consideration" and what should be "Total Stamp duty value of property" ?
Only half information you have passed what about multiple seller and why is it required to fill multi forms
Thanks for the guidance. What about the LAST and Final installment. Here “Amount on which TDS is to be deducted (D)” is showing a total stamp duty value (C) or sum of previous amount paid (A) and Current amount paid (B). In my case A+ B is same as C. The D should show amount of B but showing full stamp duty qmount C. This is final installment. How to calculate TDS. So far all TDS installments paid perfectly and processed by IT. Few others in comment section requested same question. Please address TDS on final installment in case of single buyer and single seller. Searched so many TH-cam videos but no one addressed this final tds installment topic. I am not sure if it’s portal error or shall we need to enter exact 1% TDS manually as per final installment irrespective of amount mentioned in column D. Please address this topic. Thanks a lot!
I have paid complete amount to seller after deducting 1 percent tds. In the field Amount paid/credited
currently, it should be amount including tds or excluding tds
Including TDS
I received a notice with defaults u/s 200A. Is it because I mentioned "Amount paid/credited currently" as 25,00,000/- but I deducted Rs25,413 as TDS Amount. Pata nahi kyu TDS Amount field editable hai. Please advise, agar mein 26QB Correction file kar doon tou mujhe defaults amount Rs 132. hai wo nahi pay karna hoga
Date of deduction and date of payment me more than 30 days ka difference hoga.... Esliye interest ka demand aaya hoga..
Wo pay karna padega..
in my case there is 2 buyer and 2 sellers on paper, but i want to pay TDS from my account only and the seller also wants to pay full TDS amount on his name. is it possible ?
Agar seller ka pan wrong ho jaye to corrections kaise kare?
TRACE WALI SITE SE CORRECTION KARNI PADEGI
sir what if the buyer are two and seller is only one in that situation what to do? Do i have to fill two form26qb?
Thanks for information but one doubt is pls clarify if husband and wife are joint owner and there is no percentage share mentoned in the agreement then what process we should follow?
We have made the payment, but registration is not yet done, its delayed by 2 months then when should we deposit the tds?
Sir, if property value is 1crore, and i am taking home loan of 50 lak, then total value of property and stamp duty value will cone as 1crore, and amount paid currently will cone as 50lak, but tds amount will be given as 1lak?
Excellent and upto the point
If the property is taken on joint names then you informed to fill two 26QB form but then how to fill the TDS of 1 % . how can we fill the amount as if we put 1% divided by two it will not accept. Please advice on payment of TDS for 2 buyers while filling two 26QB form
did you find out?
Good one but I have no TDS number how can I file TDS return pl clarify
Super explanation
well summarised. Thanks
Hello, am unable to understand why the major head for tax is 0020 Corporation tax, it should be 0021 Income Tax. What happens if we fill under 0020, will it be treated as a default under 0021 ? Also the AY is by default selecting as date of he property purchase and not the instalment date, how should we change this ?
Sir mai abhi bhr rehaa hu to ay 24-25 dikha rehaa h
Property kabhi kharida / becha tha..?
@@CommerceWale_Official sir may mai khareeda
Esliye AY 2024-25 hi aayega
@@CommerceWale_Official sir maine payment try kia pehle initiated dikaya fir no response from bank aa rehaa to kya naya chalan generate kru paymnt deduct nhi hui bank se
This is to download the certificate. But when you make late payment and you have defaulted. How to pay late payment fees with interest and fine. for form 26qb.
Fill interest and late fee column while filing form 26QB and make payment
@@CommerceWale_Official Thank you. I paid the TDS without paying the interest and late fee. Now I have received a Demand with a deadline of 30 days to pay. Do you have any guidance video on that?
I don't have guidance video on that..
You can pay that demand amount from there only where demand is showing
Thank you so much, it helped a lot... 👍
How to Add 26QB TDS details manually while Filing Income Tax Return?
Beautiful video.. but currently I see Tax heads have changed. Instead of Income tax (Other Than Companies -0021), now it is Corporation tax (0020).
The seller must be company
Yes, it's a builder which has PAN as compay... however last year when I had filed the 26QB via NSDL site, major head was 0021
Can you please tell if in case of Co-Owner do we have to consider only 50% sale amount for 1st Owner and remaining 50% amount to the 2nd Owner ?
50% is not mandatory..
Percentage can be change
Can you explain this with example, consider property price is 60L, 2 sellers are there, so i need to fill first 26QB for 30L amount for 1 seller & for second 30 L?
Or for both 60 L we can show?
@@PraveenYadav-ku6zr 30 each
@@cyberdose04 thanks
And what about Toatl Stamp Duty value? Should that be 50% or full ?
Sir agr ye challan galti se kisi other pan me paid ho gya h to kaise sudhare 😢
Online correction request submit kar do..
Faild ho ja rha h sir
Ar usme saler ka pan mang rha h jbki saler ka pan to sahi h buyer ka pan mistake ho gya h
Good. Really useful.
Sir, Ye property purchase krne k pehle pay krna h k baad mein??? Aur baad mein to kitna baad …Jaise maine next month property purchase krni h to kb tk pay kr skta hu??? Kindly reply sir
Hello Sir, If there are two buyers (50%-50% share) and one seller. And total property value is 1 Cr. then in Property value and Stamp duty value, do we have to mention 50 lakh each in each of the Form 26 QB (Filled by by each buyer)?
hello, is this correct way? did you get ans?
Sir, do we have to pay a penalty of 200 per day for both buyer and co-buyer if we forgot to pay TDS within 30 days?
Tax amount ka 1.5% interest per month pay karna hoga
30 days from the end of the month in which tds has been deducted
Thank you. Very helpful
I am seller and I am filling the form with my login. First page shows my details as buyer details since its my login. Is there way I can modify the same
This form is applicable for buyer..
Buyer will fill the form and pay the TDS to government
Can i pay property tds in advance
How to pay default of form 26QB
What is the difference between total value of consideration and total stamp duty value of the property? Is stamp duty value of property same as 6% stamp duty paid ? Can you please clarify?
Total value of consideration is total amount paid for the property
Total stamp duty value is property value as per stamp duty valuation
Normally both are the same..
sir TDS ka validity kitne dino tak rahta hai, Suppose maine aaj TDS Jama Kiya, or Mujhe Jamin Registry 90 Din baad karna hai, koe pareshani hogi
THANK YOU VERY USEFUL
While submission of TDS on purchase of property ,the major head is auto selected as corporation tax 0020 instead of individual tax 0021.
Kindly tell what to do ?? There is no option of changing that tax Code.
I am also facing same issue... Have you got any solution???
Mujh bhi same issue a raha hai. Kuch solution hai kya..???
@@maddy2184
0020 correct selection hai... Aise hi continue karo.....
Very nice please make a video on form 15 g or h and please explain process of form filling 🙏🙏
Sure Sir
Hi, very useful video, just one query..if there r 2 buyers and property value is of 80 lacs, so tds wl be 80k. Both the buyers have to login with their PAN and pay 40 k each?? Or one person only can make payment fully..pls clarify
Sir, after adding seller details when I’m continuing it doesn’t take me to next page ! Why ? I’ve restarted/cleared all cookies and done everything still same issue!
Tried with multiple different gadgets including 3 laptops still same issue! Not able to move to the next page! Why this issue ? Anyone facing the same issue here ?
can we pay TDS before registration ????
No, as you need to enter agreement date
if the property is bought in my name & son's name, is it necessary to submitfor cobuyer again?
Mujhe ye warning aa raha hai jab main TDS file kar raha hu
Please enter proportionate share of Stamp Duty Value.
I am filing TDS for every Installment without any issue.
But this time suddenly, Tax Applicable on 26QB is categorized as Corporation Tax (0020) instead of Income Tax (0021). Why is that?
I have received an update that has left me somewhat puzzled. While it is typically the responsibility of the Seller to remit a TDS of either 1% or 0.75% to the Government, we are now facing a situation where the Seller is requesting us to cover this TDS on their behalf. This is because we are remitting only 99% of the total agreement amount to the Seller, not the full 100%. Consequently, we are now accountable for the remaining 1% of the amount, which we are paying on the Seller's behalf. This adjustment stems from the Seller's circumstances rather than the Buyer's. This is why the prominent code we're encountering is 0020, as the Seller is a corporate entity, and we are redirecting the Seller's amount to the Government
Nice video ❤. I had purchased a flat. i am trying to file the tds for my property( 26qb tds on sale property) but in the tax code section it is automatically selecting tax code 0020 instead of 0021. What to do? Please guide me
Same is happening for me? Any work around, were you able to find?
Sir, any thoughts as to why automatically it's selecting 0020 instead of 0021?
Hi.. Were you able to find a solution for this please? Please let me know if you could figure out a solution to this.
Yes facing same issue...0020 gets auto populated...there is no option to select 0021
found any solution?
Thanks for this video. Please guide how to pay TDS for more than one buyer? In my flat, my wife is a co-owner but the payment is being made by me from a home loan. Can you guide what to do with her form 26QB? Do I need to pay TDS from her account too?
Plz watch this..
th-cam.com/video/F8yB2KK1mqw/w-d-xo.html
Very well explained
Informative, well explained
Glad you liked it
In my case , the Resale property there are 2 Buyers and 2 Sellers and total lumpsum consideration value is Rs.54 lacs. So total 4 nos. 26QB needs to be filled.
The 26QB considers only stamp duty value for 1% TDS calculation to be paid while filling the form. So will I have to input Total Value of Consideration (Property Value)- Rs. 54 lacs or Rs. 13.50 Lacs?
Further, the Amount paid/credited currently (B) - Rs. 13.50 lacs and Total stamp duty value of the property (C) *- Rs. 13.50 lacs so that 1% TDS is Rs. 13,500/- for each 26QB Form so that the aggregate TDS is Rs. 54,000/- which is 1% of total lumpsum consideration - Rs. 54,00,000/-. Is this Correct? ,
Just kindly confirm the value for each of 4 nos. 26QB forms- Total Value of Consideration (Property Value) *, Amount paid/credited currently (B) and Total stamp duty value of the property (C) *
Note : The market value/ circle rate from Sub- registrara office is Rs. 53 lacs. And I have have the stamp duty 7% on Agreement consideration amount Rs. 54 lacs.
Did u get the answer?I also have same doubt.
wow
Hi, the tax head is auto populating as 0020 instead of 0021 (I'm an individual tax payer). Any idea how to solve it?
Even i am facing the same issue, did you get any fix?
@@PrabhatKumar-je2ot apparently, 0020 is correct. The value is autopopulating based on the PAN type linked to seller. If your seller is a company, then it will populate as 0020. If it's an individual, it'll populate as 0021. Try it out. I filled with 0020.
@@SantoshSavanur okay thanks👍
But the tax is paid by the buyer which is an individual so shouldn't it be 0021
In case seller is not registered on Income tax portal
I bought a house @60,00,000 with my wife ..i was generating two 26 QB form of 30,00,000 each.
So i filled
Total Value of Consideration (Property Value) :
30,00,000
1 have paid in lumpsum
Amount paid/credited currentlv (B) : 30,00,00
Total stamp duty value of the propertv (C):
30,00,000
But i am getting this
• Warning: Please enter proportionate share of
Stamp Duty Value.
What i am filling wrong here?
Did you get solution bro im facing the same issue. Could you please guide me
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Whatsapp kijiye - 7977824099
@@CommerceWale_Official
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call kijiye agar whatsapp par nhi show kar raha hai to
To me it is showing Tax applicable as 0020 (corporation tax), it should show as 0021 as I am an individual not a company. This site is full of defects.
Do you find any solution?
@@SachinKashid1 I am still not convinced but heard from someone that if the seller is a company than it should be 0020
THE CHALLAN DOES NOT CONTAIN SELLERS PAN CREATING CONFUSSION.
Koi Dikkat Nahi Hai 🙂