I want to know the following information.
My cost of Flat as per UPHDB , a govt housing board was Rs 43 lakhs on 30/09/2013 AS PER THEIR PROVISIONAL ALLOTMENT LETTER which was required to be paid by me in equal instalment. I made payment as per their instruction in equal instalment, payment of which completed in OCTOBER 2015.
Question of 26QB was not there as the amount was less than Rs 50 Lakhs.
Now in the FINAL ALLOTMENT letter dated 29/05/2017, Now the cost has been revised to Rs 52 lakhs and The housing board has told me to deposit Rs 52000/- (1% of total consideration) through 26QB as TDS on purchase of property and pay the difference amount of Rs 9 lakhs within 31/08/2017 . I am ready to make all payment in August 2017.
I want register the FLAT ( property ) in October 2017. Query is:-
(1) In 26QB ,payment to be shown- instalment or lumpsum
(2) IN 26QB, date of INITIAL ALLOTMENT LETTER 30/09/2013 ISSUED BY UP HOUSING BOARD to be shown or date of agreement in October 2017 to be shown.
Kindly help
With regards
PANDEY
2 Answers
Dear Mr Pandey,
1 - You have the required fields to capture both the details. You can mention the total amount (Rs 52 Lakh) and also the type of payment as Installment.
2 - Even this field, I think you can mention either of the date, but I believe that its better to mention the date of Agreement.
You may kindly go through this e-Tutorial on TDS on Sale of property.
THANKS FOR YOU QUICK FEEDBACK. IF i SHOW INSTALMENT THEN QUESTION OF PENAL INTEREST AND OTHER CHARGES AS PER it RULES MAY COME IN PICTURE.
IF I SHOW LUMPSUM THEN WILL THERE BE ANY PROBLEM AND DATE OF BOOKING AS 29/05/2017 AS PER THE FINAL ALLOTMENT LETTER BY WHICH THE AMOUNT ACTUALLY CROSSED RS 50 LAKHS. KINDLY GUIDE ME LAST.
Please login or Register to submit your answer