TDS on Purchase of Immovable Property

Now file Form 27Q online

File Form 27Q for purchase of land / building >= 50 Lacs from Non Resident

Service includes providing TDS certificate from TRACES portal

Service includes applying new TAN registration, filing of Form 27Q for the relevant period and filing application for surrender of TAN registration

Click here if the seller(s) is a resident

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Salient Features

TDS is applicable on sale of immoveable property (other than rural agricultural land) wherein the sale consideration of the property exceeds or is equal to ₹ 50,00,000 (Rupees Fifty Lakhs).

 

Sec 194 IA of the Income Tax Act, 1961 states that for all transactions with effect from June 1, 2013, Tax @ 1% should be deducted by the purchaser of the property at the time of making payment of sale consideration. Tax so deducted should be deposited to the Government Account through any of the authorised bank branches.

Important Considerations

Where seller(s) of the property is a non-resident(s), Buyer or Purchaser of the property is mandatorily required to procure Tax Deduction Account Number (TAN). The Buyer is required quote his or her TAN and sellers PAN.

 

TDS certificate in Form 16A is to be issued by the deductor (Buyer of property) to the deductee (Seller of property) in respect of the taxes deducted and deposited into the Government Account.

Form 27Q is to be filled in by each buyer for respective share. E.g. in case of one buyer and two sellers, one form has to be filled in and for two buyers and two seller, two forms have to be filled in for respective property shares.

Steps Involved

01

FILL UP BASIC DETAILS BELOW

Our Interactive form will help us understand your requirements and assess list of documents required,

02

SUBMIT DOCUMENTS AND PAY FEES

Our team member will contact you to advise list of documents required for processing your application and invoice for professional services.

03

process and submit application

Our team coordinates with you to apply for a TAN  registration and submits your Form 27Q with authorities. TDS Challan can be deposited online / offline as per your convenience.

04

TDS CERTIFICATE ISSUED

Post processing of Form 27Q by Income Tax Department, TDS certificate in Form 16A can be downloaded from Income Tax Department portal. Subsequently, your TAN surrender application shall be filed.

If your need additional services in relation to Form 27Q, please write to us or call us.

Let's file your Form 27Q. First, let's start with understanding your requirements:

TDS on purchase of Immovable Property

Property is
Payment made in
Are any of the buyers non-resident?
Are any of the sellers non-resident?