TDS on Sale , Purchase of House Property above Rs 50 lakh| CA PRITISH BURTON

29.Hi, In this video I have covered the below topics on TDS on Sale of Property.
1.What is the TDS rate for property sale?
2.Is there any TDS on sale of property?
3.Who will pay 1 TDS on sale of property?
4.What is TDS on sale of immovable property?
5.How do I claim 1 TDS on sale of property?
6.What if TDS is not deducted on sale of property?
7. TDS on purchase of property above 50 Lakhs
8.TDS on sale of property by NRI
9. TDS on sale of property by joint buyers.
10. How to fill form 26QB
11. Whether TAN is needed for TDS on sale of property?
12. Section 194IA of Income Tax Act
13. How to make TDS on Sale of property?
14. TDS Refund on sale of property
15. TDS on property sold by Non Resident Indian Or NRI
16. How to file TDS online?
17. Different rules for TDS on property sale by NRI and Resident Indian.
18 .Why TDS is applicable on property purchase in India?
19. What is the process of TDS deduction on property purchase?
20. When is TDS applicable on property purchases?
21. Who deducts the TDS on property purchase in India?
22. Why buyer have to deduct TDS from seller's payment during property purchase?
23. n which case, TDS on property purchase is not applicable?
24. What are the TDS deduction rules on property purchase for resident Indians?
25. How to pay deducted TDS on property purchase to the government?
26. What are the TDS deduction rules on property purchase for NRI sellers?
27. What is form 26QB and form 27Q?
28. How to generate form 26Q and form 27Q online?
29. What are the consequences of not deducting TDS on property purchase over Rs 50 lakh?
30.How to pay TDS on property purchase online?
If you like my content do live a like on the video and share your thoughts Or doubts on any concepts discussed in the Video down in the comment section..
Like, Share and Subscribe and turn on the Notification to stay updated on various topics on finance, legal, economy, and investments......
#CAPritishBurton
#tds
#houseproperty
#savetaxes
#taxdeductedatsource
#HowtoSaveTax
#taxonsaleofhouseproperty
#savetax
#CapitalGainsOnHouseProperty
#capitalgainstax
#nrimoneyclinic
#longtermcapitalgain
#finance
#investment
#financialplanning
#financialfreedom
#carachanaranade
#assetyogi
#nrimoneyclinic
#WhatistheTDSrateforpropertysale
#isthereanyTDSonsaleofproperty
#Whowillpay1%TDSonsaleofproperty
#What isTDSonsaleofimmovableproperty
#HowdoIclaim1percentTDSonsaleofproperty
#WhatifTDSisnotdeductedonsaleofproperty
#tdsonpurchaseofpropertyabove50Lakhs
#TDSonsaleofpropertybyNRI
#TDSonsaleofpropertybyjointbuyers
#Howtofillform26QB
#WhetherTANisneededforTDSonsaleofproperty
#Section194IAofIncomeTaxAct
#HowtomakeTDSonSaleofproperty
#investing
#financialgoals
#wealthmanagement
#incometax
#tax
#incometaxindia
#ca
#incometaxreturn
#taxconsultant
#taxreturns
#taxplanning
#investments
#taxlaw
#income
#taxtips
#form26qb
#gstonproperty
#taxdeductedatsource
#capitalgainstax
#

[@carolinedsilva3981]

NRI says you are excellent.....clear...precise....very informative.....

[@vivekreddy8864]

Finally found a video in english

[@trilochansingh2438]

Please make with illustration how to pay TDS by 2 buyers and joint sellers

[@Srksenthilkumar]

Thanks for the detailed video, You mentioned that 20% TDS is applicable even the property value is less than 50 Lakhs when the seller is NRI. Is my understanding is correct?

[@capritishburton7682]

Yes

[@harmeetsingh6962]

Dear sir. Your provide very good information for NRI. I have a question regarding oci holder selling his property. In case the oci holder return back to India permanently and gain the resident status for tax purposes and convert all the back accounts to resident accounts. Will he still pay 20% TDS on sale of property? I shall be very thankful to you for this information.

[@capritishburton7682]

No need .. residential status will apply and 1 percent tds

[@KumarNaman-m7x]

Sir, If 2 buyers jointly purchase a property from a NRI seller and property sales value is 1.2 Cr then what will be the applicable surcharge while deducting tds ? The confusion is because the individual buyers contribution is 60lakhs but total sales transaction is more than 1 cr so individuals should add a 10% surcharge or 15% surcharge ?

[@rounakjain863]

Thanks a lot for this useful information. For joint buyers from an NRI seller, do we need to include the PAN/TAN details of both individuals while applying for the lower TDS certificate?

[@capritishburton7682]

Yes

[@sanjeevrathour]

Sir, I also have to show in my ITR as individual, the TDS deducted on purchase of house above 50 lakhs??? Since it reflects in 26AS/TIS/AIS.

[@Rahskal2007]

In case of 2 buyer (husband & wife) x 1 Seller hai.. but only 1 buyer (husband) pay whole TDS amount.. in that case how many 26QB form need to be filled?

[@VibhutiGaneshG]

About NRI pl clarify if it is as per FEMA or Income Tax definition. Many times the sale of property takes place during a period when the assessee would be considered NRI due to stay in a foreign country.

[@capritishburton7682]

Income tax

[@rosefanatic450]

I have purchased 2 plots together in the same society side-by-side(46 lakhs each) from the same pan account on same day. Should I pay the TDS or not?

[@capritishburton7682]

Yes

[@deepakjain6554]

we are 5 brothers ( 3 resident and 2 NRI ) and selling residential property to resident buyer. how TDS would be calculated ? What forms would be filed by the buyer towards TDS ?

[@saheb3011]

I hv bought a house property on July '23 with 1.06 Cr. I will sell my old house property on Oct '23 at 59 lakhs. I had bought my old house property with 43 lakhs. As far as I know, I wont hv to pay capital gain tax since I am selling my old house property within the span of one year after buying new property. However, while selling my old house property, buyer will have to pay 1% TDS on my behalf i.e. Rs. 59000. Can I get full return of Rs 59000 when I file ITR return in 2024?

[@capritishburton7682]

Yes

[@praveenkumar-ql8yj]

Sir small doubt.. at the time of paying tds buyer using ur pan number or his pan number... Urgent

[@glenndcruz2000]

If the property is sold for less than 50 lakhs by a resident Indian then no TDS is payable. But is the 1% tax still due to the government or no tax is to be paid for such properties sold below 50 lakhs

[@capritishburton7682]

No TDS . But capital gain needs to be calculated and if capital gain tax is payable needs to be ascertained and paid

[@njs2121211]

For selling amount, if we are going to buy property any equal value to that amount means, for avoiding tax, so in that case, is their is any need to pay tds.

[@rameshbabu-ot9vx]

Dear Sir , Recently My spouse and me bought an apart in hyderabad and the registration is completed on 11th may 2023, during this process we are not aware about TDS . While we are collecting the documents from the registration office , we have been informed about TDS. We have paid about 45L through NEFT and rest 90L through bank loan. Now the Seller is not agreeing on TDS , he is asking us to pay TDS even after paying the full amount as per SALE agreement. Unfortunately the Seller is an NRI , so the TDS is about 20% which is asking to pay us to Government INDIA. What are the option we have here ? do we need to make excess payment to the seller in this case ?

[@faizalahamed3876]

I am purchasing a under construction flat for which the price I pay to seller is 48 lakh(net amount) + 5 lakh(Gst )= 53 lakh(Gross amount) . Do i come under 50 lakh bracket since my net amount is 48 lakh excluding gst. So is TDS applicable for me? Note i am indian citizen)

[@capritishburton7682]

Excluding GST to be considered

[@swarajkumarghosh773]

I will now sell a Flat at Rs.40 lakhs which was purchased by me in 2010 at a cost of Rs.14 lakhs.kindly advise whether TDS is applicable or not.

[@tosandeepyandra]

What if current guidence value is 54lakhs and sale deed we mention for sale at 49lakhs .. should i still pay TDS ? Note: stamp duty will be paid considering guidence value i.e.., @54lakhs only

[@shivaramprasad5165]

Dear sir, Last year on sale of property the tds amount has been deducted and now we also currently filed itr What is the next process to claim tds refund amount already 1 week gone I hope you can take this query and solutions kindly reply sir

[@capritishburton7682]

Wait for refund

[@capritishburton7682]

Wait for refund . ITR needs to be processed

[@inamurrahaman2933]

If I sell a residential house and then I invest for a land how much time will I get not to pay TDS?

[@Yuvaraj-tr5hk]

When the agricultural property was saled by the seller it will taxed for seller or not sir

[@capritishburton7682]

No tax on rural agricultural property

[@rohitkhanna3076]

what in case where in case of inherited property in name of 2 joint holders and one in foreign citizen and one is indian resident

[@santhoshgorla8551]

Sir I have a doubt suppose if buy a property of 60 lakh do ఈ have to pay owner 60 lakh and tds 60k or i have to pay owner 59 lakh 40k and tds 60k, what do I have to do?

[@askarali6013]

Superb sir...! Thank You for your useful information...!

[@sonakshinair]

Seller in India buying in Australia what will be the tax

[@praveenkumar-ql8yj]

Sir i sold my property for 80 lakhs. The buyer deducted tds amount from sale value.. here my doubt... he paid tds not my pan number... Then how can i claim it.. he used his pan number for tds

[@thetwominutesdoc25]

excellent video

[@capritishburton7682]

Thank you

[@saurabhchamoli2430]

Are both TDS and Capital Gain Tax imposed on seller.

[@capritishburton7682]

Yes

[@debopratim012]

Maine jointly with spouse flat liya 60L ka which is under construction installments pay kar raha hu to builder do i have to pay tds now or at the time of registration

[@rajannair8905]

I have purchased a new flat before selling my existing flat, due to the new flat possession will be after six months only, I will be selling the flat only when I get the possession of the new flat, in this case what will be my tax liability.

[@capritishburton7682]

Depends on the capital gain calculation

[@nandkishorbhagat9537]

Hi sir , I have purchased a home at Mumbai having an aggrement value 76L, and I have paid all TDS to the government in one installment I.e.76K, Now can I refund back my tds in ITR , Pl tell me the procedure...

[@capritishburton7682]

The seller can get back the TDS . As you would have paid the seller your purchase value minus TDS .

[@shajikuruvilla135]

Hi buyer of my ( NRI) flat paid the TDS at 20.8% but there is no mention of my name or my PAN. How will i know if is paid in my name?

[@shajikuruvilla135]

I have to register the sale shortly, pls advise.

[@rohitshrivastava5154]

Very informative

[@capritishburton7682]

Thank you

[@bhalchandrashinde7090]

According to the sale deed if buyers are 2, but payment of the transaction consideration amount is deducted from only one of the buyer account , then what's tds procedure ?

[@capritishburton7682]

Is the registration done ?

[@bhalchandrashinde7090]

Yes sir,

[@harikiran4341]

I bought home for 60lakhs.bank loan is around 50lakh. Bank has given 60000 tds cheque and around 50 lakh cheque....do I have to pay tds in online? So my loan amount is coming by deducting from total loan amt? My registration is completed.

[@capritishburton7682]

Not sure what bank has given

[@ashishchavan1921]

Respected sir, I have purchased underconstruction property in mumbai in 2019. I registered sale agreement with developer on march 2020 & agreement value is 44 lakhs. Besides that i have pay 6% stamp duty i.e 2,64,000 & GST 5% 2,20,000 which paid as per construcion progress with emi. My developers PLC charges are 2,35,000 which will i have to pay while posession in 2024. Should I have to pay TDS of 1% or not. Developer continiously asking me to pay tds. But my property agreement value does not exceeds 50 lakhs. Please clarify.

[@rohinmalavi938]

sir if i am a seller and sell a property whose value is below 50 lakhs then am i supposed to pay tds on the same

[@vikastaneja1305]

Sir , I have purchased property from HUDA (I.e. it's a conveyance deed from Haryana urban development authority ) and payed whole amount , 1 percent TDS not submitted separately by me in Dec 21 . Please suggest solution for me . Regards

[@dantasuryasri8162]

Do we need to deduct TDS if the seller is a court?

[@dharampalbatra1639]

Sir ji kaya seller bhi 16b nikal sakta hai yadi buyer 16 b dene se mana kar de please

[@leenadsa9621]

Very good

[@capritishburton7682]

Thank you

[@mssumakiran]

Very clear info as always.

[@capritishburton7682]

Thank you Suma

[@ArvindSharma-mx3ti]

Sir, Thanks for informative and useful video . sir if Husband and wife purchased a residential builder flat in joint name and the entire amount Rs. 70 lacs was paid by wife from her account. kindly guide us who will deposit TDS of Rs. 70000 whether wife or should be deposited partly by wife Rs. 35000 and partly by husband Rs 35000. or 95% by wife and 5% by husband.will be gateful for your valuable & expert advise.

[@venanciapereira648]

Can one claim refund of this tds

[@precillamachado1828]

Very informative

[@capritishburton7682]

Thank you