Following are the points to be remembered by the buyer of the property : Deduct TDS @ 1% on the total sale consideration. Collect the Permanent Account Number (PAN) of […]
What are the points to be remembered by the Seller of the Property?
Following are the points to be remembered by the seller of the property: Provide a copy of PAN card to the Purchaser of the property for furnishing information regarding TDS […]
What is TDS on property?
As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property is equal or exceeds or to 50,00,000 (Rupees Fifty […]
How can I know if my deductor has filed the quarterly statement reflecting details for my PAN?
You can check on TRACES if deductor has filed quarterly statement and whether the statement contains details for your PAN. This functionality can be accessed by Tax Payer without logging […]
How is Form 26AS important to a deductor and tax payer?
The TDS / TCS deducted by a deductor is reflected in Form 26AS of the respective PAN and this helps in identifying any discrepancy / error. Although deductor cannot view […]
I have received a demand notice for my Income Tax Return, whom should I contact in this regard?
For demand related to your income tax return (ITR), kindly contact ITRCPC-Bangalore or your Jurisdictional AO.
What is the password for opening Form 26AS?
The password for opening Form 26AS will be your Date of Birth (in DDMMYYYY format), e.g., if your date of birth is 01-Feb-1980, password will be 01021980.
Whether name and address of Tax Payer can be changed in Form 26AS?
Tax Payer details (name and address) in Form 26AS are reflected as per PAN database. For any change, please submit change request application for PAN (Form 49A) at www.tin-nsdl.com.
What should I do in case there are entries in my Form 26AS that do not pertain to me?
If this is on account of ‘TDS / TCS’ credit, you may intimate your deductor / collector. If this is on account of advance tax / self-assessment tax, you may […]
What if entries in Form 26AS that do not pertain to the deductee?
The respective deductor should be approached for filling correction statement. In case of advance tax / regular tax / self-assessment tax, the jurisdictional AO may be approached for necessary correction.