How to pay tax without tan and issue tds certificate
Sundram N
(Querist) 28 May 2013
This query is : Resolved
Dear Senior and friends,
Kindly advice that, new section 194IA is inserted in income tax act to deduct tax from purchase consideration by purchaser @1% and TDS is to be deposited within due date. further, TDS certificate is to be issued to the builder. but, it is irrelevant in the act that, TAN is made not applicabe to the purchaser.
My queries :-
1. How purcahser will pay the tax in to Govt. account wothout having PAN?
2. How to issue TDS certificate to builder by purchaser if not have TAN ?
3. TDS certificate is made compulsory to generate on line after filing return of TDS then, without having TAN, how Purchaser will comply to issue TDS certificate.
kindly share your veiw.
kindly advice.
Rajendra K Goyal
(Expert) 08 June 2013
The procedure in brief is as under:
1. No TAN is required by the purchaser.
2. Mentioning of PAN of seller and purchased is must.
3. After completing the details in required format and submitting 9 digits acknowledgement no. is received.
4. Pay tax mentioning this or if want to pay subsequently, enter details and pay. It is to be paid in 7 days.
Raj Kumar Makkad
(Expert) 08 June 2013
I do endorse the advice of Rajender K Goyal.
