I donot have TAN no.property consideration amount is 1.10 cr.i need to deposit TDS of 22.66%.both of us have pan cards.Seller is NRI and self resident.while filling 26QB when you click on non resident for seller it is asking for 27Q which is asking for TAN no.please suggest how do i deposit the tax?can my bank help in this.
Hi
You will have to take a TAN No. for this transaction because although TAN No. is not required in case the property is purchased from a Resident Indian but it is required in case the property is purchased from a Non Resident Indian.
Since seller is NRI, you will require TAN No.
Hiii
Good Morning
Before deduction of TDS under section 195, buyer should obtain TAN under section 203A of the Income Tax Act, 1961. You can apply for TAN online by filing Form 49B
and after that you need to file TDS Return using Form 27Q
good morning sir, i have applied for TAN and i have acknowledgement no for same.will that help in immediate payment of TDS.
no sir
TDS challan required TAN No same as when we pay income tax we required PAN No, thus please wait for allotment of TAN No. and after that pay TDS Challan and file 27Q
what is the solution if i have to deduct tds from my sellers amount today or tommorow.
registration is planned on 3rd Aug and i need to give a proof to the seller that i have deducted TDS.
Hi,
In case seller is NRI, TAN will be required.
Please feel free to call/ revert in case you need more clarity.
Thanks and regards
Abhishek Dugar
CA CS B.Com
No. Having applied for TAN won't solve the purpose. You must have the TAN No. before you deduct tax. Since tax has to be deducted at the time of payment, you should wait for the TAN No. and then proceed.
Sorry.. I am not aware of any way by which you can pay TDS without TAN in this case.
Please feel free to call/ revert in case you need more clarity.
Thanks and regards
Abhishek Dugar
CA CS B.Com
Please note that in this case, TDS has to be deducted at each payment and not at the time of registration.
Sir you can deduct TDS but can't deposit before allotment of TAN , thus regularly check your TAN application status
And assure seller for providing form 16A after completing of all compliances
We can file Return of TDS for period July to September between 1 October to 31 october and after filling of Return we can issue form 16A
Hello Sir,
You cannot make a payment nor file returns unless you have a TAN.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Thanking You.
Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP
