Every person or a business entity buying an immovable property needs to deduct TDS where the cost of transaction is more than Rs. 50 lakhs. The deductor then needs to deposit this TDS amount with the Government in 30 days and file a return. Delay or failure in filing results in levy of interest and penalty.
Tax Aid provides one stop solution to persons and business entities to adhere to tax and other legal compliances.
Information required for filing return
- Name, Address and phone number of seller and buyer
- PAN of seller and buyer
- Sale deed of property
- Bank Statements for period during which payments were made
How it’s done
- Purchase plan depending upon your requirement
- Submit information and relevant documents
- Returns filed by experts
- Form 16B generated and provided