zoho Posted March 15, 2023 Share Posted March 15, 2023 Guys, I sold the property in 2022 in Bangalore, India. Buyer paid SBI challana for TDS amount, which is about 22%, as I am NRI seller. I have copy of those challanas. Looks like buyer supposed to file TDS returns so that TDS amount can reflected in my 26AS. Buyer is refusing to file TDS returns for unknows reason. Intially he told he will do , now he is not answering my calls. Because of that I am not able to get TDS certificate from him. I would like to claim this TDS amount as I re-invested the amount in real estate. Looks like without buyer filing the TDS , I can't claim it. In this case what are my options? Can I complain to any one? If so to whom i can compaint?. how to proceed in this regad. Your help/suggestions is highly apprecited Thanks zoho Link to comment Share on other sites More sharing options...
TarakMokshu99 Posted March 16, 2023 Share Posted March 16, 2023 There is no requirement to file TDS return. He supposed to pay TDS by form 26QB itself is a TDS return. Link to comment Share on other sites More sharing options...
ravindras Posted March 16, 2023 Share Posted March 16, 2023 check if challan is fake Link to comment Share on other sites More sharing options...
RamaSiddhu J Posted March 16, 2023 Share Posted March 16, 2023 If buyer paid challanas snd send you form 16B (After Filing 26QB) it will be automatically reflected in your form 26AS....its not reflected means he did not pay TDS Link to comment Share on other sites More sharing options...
RamaSiddhu J Posted March 16, 2023 Share Posted March 16, 2023 50 minutes ago, ravindras said: check if challan is fake +1 Link to comment Share on other sites More sharing options...
zoho Posted March 16, 2023 Author Share Posted March 16, 2023 2 hours ago, ravindras said: check if challan is fake Challan is not fake, its was paid in SBI in front of my people. How can I check its fake? Link to comment Share on other sites More sharing options...
zoho Posted March 16, 2023 Author Share Posted March 16, 2023 7 minutes ago, RamaSiddhu J said: If buyer paid challanas snd send you form 16B (After Filing 26QB) it will be automatically reflected in your form 26AS....its not reflected means he did not pay TDS buyer paid challanas , but I didnt get form 16B. Looks like he didn't file 26QB, which he is not filing. Intially he asked 10K for filing it . I told ok and proceed to file. Now he is not responding at all. Link to comment Share on other sites More sharing options...
slaveformasters Posted March 16, 2023 Share Posted March 16, 2023 a different question related to the topic: What’s the time limit to re-invest to avoid tax on gains? Do we need pay taxes on gains in India and USA? Link to comment Share on other sites More sharing options...
Vihari Posted March 16, 2023 Share Posted March 16, 2023 39 minutes ago, slaveformasters said: a different question related to the topic: What’s the time limit to re-invest to avoid tax on gains? same question. if we sell something and purchase another property with same price, do wee need to pay capital gains tax? Link to comment Share on other sites More sharing options...
Nfan from 1982 Posted March 16, 2023 Share Posted March 16, 2023 52 minutes ago, slaveformasters said: a different question related to the topic: What’s the time limit to re-invest to avoid tax on gains? Do we need pay taxes on gains in India and USA? I think a financial year Link to comment Share on other sites More sharing options...
Nfan from 1982 Posted March 16, 2023 Share Posted March 16, 2023 13 minutes ago, Vihari said: same question. if we sell something and purchase another property with same price, do wee need to pay capital gains tax? No Link to comment Share on other sites More sharing options...
Vihari Posted March 16, 2023 Share Posted March 16, 2023 Just now, Nfan from 1982 said: No Oh. so if we sell property and buy another property then no need to pay tax aa. great. thanks. Link to comment Share on other sites More sharing options...
Nfan from 1982 Posted March 16, 2023 Share Posted March 16, 2023 Just now, Vihari said: Oh. so if we sell property and buy another property then no need to pay tax aa. great. thanks. Ha It should be house property related transaction brother Link to comment Share on other sites More sharing options...
zoho Posted March 16, 2023 Author Share Posted March 16, 2023 2 minutes ago, Nfan from 1982 said: Ha It should be house property related transaction brother I think you should pay the tax on each transaction. Actually buyer pays the tax on property sale and you get the amount , which is sale price minus tax amount. But you can claim that tax amount when you show the proofs that , you re-invested the capital gains in real estate. I think you should re-invest with in two years. Link to comment Share on other sites More sharing options...
Nfan from 1982 Posted March 16, 2023 Share Posted March 16, 2023 2 minutes ago, zoho said: I think you should pay the tax on each transaction. Actually buyer pays the tax on property sale and you get the amount , which is sale price minus tax amount. But you can claim that tax amount when you show the proofs that , you re-invested the capital gains in real estate. I think you should re-invest with in two years. My information is related to same person who is selling and buying a house property in same financial year Link to comment Share on other sites More sharing options...
RamaSiddhu J Posted March 16, 2023 Share Posted March 16, 2023 1 hour ago, zoho said: buyer paid challanas , but I didnt get form 16B. Looks like he didn't file 26QB, which he is not filing. Intially he asked 10K for filing it . I told ok and proceed to file. Now he is not responding at all. Bhayya: First 26QB file chesaka Challana Generate Auddi...Pay Chesaka Form 16B generate auddi...I buy a flat under construction plan. Every three months I am doing this for three years Link to comment Share on other sites More sharing options...
Vihari Posted March 16, 2023 Share Posted March 16, 2023 18 minutes ago, zoho said: I think you should pay the tax on each transaction. Actually buyer pays the tax on property sale and you get the amount , which is sale price minus tax amount. But you can claim that tax amount when you show the proofs that , you re-invested the capital gains in real estate. I think you should re-invest with in two years. ok thanks. Link to comment Share on other sites More sharing options...
ravindras Posted March 16, 2023 Share Posted March 16, 2023 check challan status (cin challan identification number) https://tin.tin.nsdl.com/oltas/servlet/QueryTaxpayerAjax click on cin based view and enter details of challan if challan is paid and if you know buyer pan number , you can take the help of the charted accountant to file 26qb. if you doesn't buyer pan number, try to get the photocopy sale deed. mostly sale deed contains pan number. you can get sale deed photo copy from the registration office using past document photo copies of property. you may have to pay some bribe and nominal charges. please contact some charterted accountant for guidance. Link to comment Share on other sites More sharing options...
zoho Posted March 16, 2023 Author Share Posted March 16, 2023 12 minutes ago, ravindras said: check challan status (cin challan identification number) https://tin.tin.nsdl.com/oltas/servlet/QueryTaxpayerAjax I see TDS challanas using above link Link to comment Share on other sites More sharing options...
zoho Posted March 16, 2023 Author Share Posted March 16, 2023 33 minutes ago, RamaSiddhu J said: Bhayya: First 26QB file chesaka Challana Generate Auddi...Pay Chesaka Form 16B generate auddi...I buy a flat under construction plan. Every three months I am doing this for three years may be this process is differnt for NRI seller. Here buyer uses TAN to pay the TDS Link to comment Share on other sites More sharing options...
Bezawada Posted March 16, 2023 Share Posted March 16, 2023 naku telisina TDS process every month company TAN no mida TDS pay chestaru example Person A daggara 10000 TDS deduct chesadu and Person B daggara 15000 TDS dedcut chesadu total ga 25000 vadi company TAN mida TDS challan pay chestadu later every quarter ki TDS returns file cheyyali company appudu vadu pay chesina amounts nunchi Person A PAN number ki 10000 and Person B PAN number ki 15000 split chestaru Quarterly returns file chesaka, mi PAN mida return file chesi unte mi 26AS lo reflect avtadi ledante avvadu Mi stuation lo vadu pay chesina TDS challan vere evariki ina credit cheyyochu endukante vadi company TAN mida challan tisi untadu kabatti Idi regular TDS proceduyre for any company, not sure if there are any specific rules for NRIs Link to comment Share on other sites More sharing options...
Praneeth K Posted March 16, 2023 Share Posted March 16, 2023 So here is what we did in our scenario. We were the buyers so informed NRI seller about the process As 22% TDS plus any taxes/fee is coming out to insane amount, we worked with a CA to help with the process. We applied for TAN to deduct tax on behalf of seller for the sale Seller worked with a CA to file for lower TDS % claiming that capital gains wouldn't be that much Seller got lower TDS certificates for 3% TDS plus taxes and fees. It will be issued on the name & TAN of buyer. We paid the TDS, shared e-receipt for e-tax payment with seller and completed the sale (seller had a SPA) At the end of financial quarter, we filed TDS returns (FORM NO-27Q). It included our PAN &TAN, seller's PAN and lower TDS certificate number Shared the TDS return acknowledgement receipt (Tax Invoice cum Provisional Receipt) that we got from IT, with the seller. After a week, we got form 16A ( buyer as Deductor with Name, Address, TAN & PAN mentioned, seller as Deductee with Name, Address &PAN mentioned). It has details of total sale amount and TDS deducted. At the end of financial year, seller filed personal income tax returns with the form 16A and other details we provided and got the amount back in around 2 months or so (whatever he's eligible after calculation of capital gains). At the end of next quarter, we closed our TAN. Seller also worked with with local bank and transferred money to his non-Indian bank account. It is a long, frustrating and time consuming process and you really need to have buyers and sellers that understand each other and work through the process patiently. Coming to you scenario @zoho, I am not totally sure what can be done. I would say, have a relative of yours who is local visit the buyer personally (with help of a CA - no need for CA to visit personally), have buyer understand the process, take necessary docs and have the CA file returns and share acknowledgement receipts. Buyer has nothing to lose here. I am not sure why they are not cooperating. May be they are thinking it is a time consuming process and they'd need to spend money. Ensure you'd cover CA expenses and it is only a matter of taking necessary docs, proofs and signatures from buyer. Send me a PM if you need any other details on the process. Link to comment Share on other sites More sharing options...
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