What is the procedure for paying the TDS amount into the Bank subsequently, i.e. not immediately after furnishing the purchase transaction details online?
TDS on Immovable Property
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TDS on immovable property: furnish transaction details online, then pay subsequently via bank or netbanking using acknowledgement. TDS on Immovable Property must be reported online on the Protean TIN portal where the purchaser furnishes prescribed transaction details, confirms PAN as validated against the PAN Master, and elects 'Payment of taxes on Subsequent Date.' After submission an acknowledgement number and slip are generated; payment is then made subsequently either at an authorised bank branch (which pays via netbanking and issues a challan counterfoil) or by selecting a bank and completing netbanking payment from the portal. No online rectification is available; corrections require approaching the Assessing Officer or CPC TDS.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
TDS on immovable property: furnish transaction details online, then pay subsequently via bank or netbanking using acknowledgement.
TDS on Immovable Property must be reported online on the Protean TIN portal where the purchaser furnishes prescribed transaction details, confirms PAN as validated against the PAN Master, and elects "Payment of taxes on Subsequent Date." After submission an acknowledgement number and slip are generated; payment is then made subsequently either at an authorised bank branch (which pays via netbanking and issues a challan counterfoil) or by selecting a bank and completing netbanking payment from the portal. No online rectification is available; corrections require approaching the Assessing Officer or CPC TDS.
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