CONTENTS OF TOPIC S.No. Particulars 1 Introduction 2 Requirements associated with Form 26QB 3 Steps to fill Form 26QB Steps to Download Form 16 4 Illustration on successful filing of Form 26QB 5 FAQs 6 Conclusion 7 Expert Insights Introduction to 26QB Under Section 194-IA of the Income Tax Act, 1961, when an individual […]
Tag: Form 26QB
TDS ON PROPERTY UNDER SECTION 194-IA OF INCOME TAX ACT
APPLICABILITY OF TDS Any person who is purchasing an immovable property (other than rural agricultural land) worth Rs. 50 lakh or more is required to pay withholding tax at the rate of 1% from the consideration payable to a resident transferor. This section covers residential property, commercial property, as well as land. However, transactions pertaining […]