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FORM 26QB
12 key income tax form changes every taxpayer should know: From Form 16 to Form 168A new Income-tax Act arrives on April 1, 2026. It brings fresh income tax forms and replaces many old ones. Taxpayers will use these new fo...- New Form 141 introduced for TDS filing: 4 existing forms merged into one challan-cum-statementThe Income Tax Department has introduced Form 141, a consolidated challan-cum-statement, merging four previous TDS forms. This new form sim...
- From property deals to foreign assets: how the Income-Tax Department tracks your moneyIn December, the Income-tax Department sent SMS and email alerts flagging mismatches in reported income and non-disclosure of foreign asset...
- Will old tax regime regain its edge after proposed allowance upgrades in Draft Income Tax Rules, 2026?On paper, the reform appears tidy. The number of rules falls from 511 to 333 and forms from 399 to 190, reinforcing the narrative of simpli...
- NRI wins capital gains tax case in Delhi High Court regarding sale of Rs 2 crore property despite Rs 46 lakh tax demand noticeAn NRI faced tax issues after a property sale in Pune for Rs 2 crore. The buyer used the wrong TDS form (26QB), causing problems. The Incom...
- Don’t forget to deduct TDS before buying property even if the seller is NRI as buyer will risk being labelled as tax evaderTDS on house property: The Income Tax Department said to follow Section 194 IA which relates to Tax Deducted at Source (TDS) on buying a ho...
- 13 ways the FM can simplify matters for income tax payers in interim Budget 2024: CIIThe Interim Budget 2024, will be presented by the finance minister, Nirmala Sitharaman, on February 1, 2024. A few key steps as suggested b...
- Cost of flat is Rs 47 lakh, market value of property is Rs 60 lakh; what will be the TDS implication?Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
- What are TDS rules on buying a house? How to deduct, deposit tax and download Form 16BWhen an individual buys a house, then apart from other formalites such as registering the sale deed, making payments etc., they are also re...
- TDS on rent payment, property sale: Budget hikes penalty on delay in TDS certificate to Rs 500/dayA buyer of immovable property is required to deduct tax at the rate of 1% of the sale value and furnish the challan-cum-statement in Form N...
- Purchased property worth more than Rs 50 lakh? Here's how to deposit TDS amountIt is important to get PAN of the seller and verify the same with the original so that there are no discrepancies later on.
- PAN-Aadhaar interchangeability: 6 instances where you can use Aadhaar number instead of PANDo keep in mind that it is advisable to link your PAN with Aadhaar number before quoting it in lieu of PAN. This is because there still is ...
- ITR filing: Don't make these mistakes to avoid getting tax noticeFind out what you should do to avoid getting a notice for small errors on income tax returns.
- How to make payment of TDS on sale of propertyPAN of the buyer and the seller is mandatory to make e-payment of TDS on sale of property. However, the TAN (Tax Deduction Account Number) ...
- How to handle TDS on sale of propertyThe buyer is required to deduct TDS @ 1% on the total consideration and deposit the same in the account of the income tax authorities.
- Time-frame for depositing TDS on sale of property extendedAs a relief to property buyers, the Income Tax department has extended the time period for depositing TDS on sale of property by 23 days.
- If you bought property but have not deposited TDS, you may get a tax noticeWhile the rule has been in effect since June 1, 2013, many buyers are unaware or often confused about how to calculate the tax.
- Where TDS is applicable and how to avoid itCleartax.in lists the incomes and transactions on which TDS is applicable and how one can avoid it.
- 5 things to know before making e-payment of TDS on sale of propertyIt is the responsibility of the buyer to deduct the tax and deposit the same in the government treasury.
- Tax Deduction on property purchase: Know all about the paperworkTDS is to be deducted on the total amount paid to the seller, including service tax and other charges, and those for parking and amenities.
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