https://www.taxtmi.com/article/detailed?id=13399 The transferee's statutory duty to deduct tax at source on payment for immovable property requires timely deposit to government and submission of Form 26QB and Form 16B; failure to deduct or to remit within the prescribed period attracts statutory interest on delayed remittance and a separate late filing fee, and belated payment after the event does not absolve the payer where there is no contemporaneous evidence that the payee was an exempt institution or that the payer received specific authoritative instruction not to deduct. en-us Sat, 25 Jan 2025 11:42:11 +0530 Sat, 25 Jan 2025 11:42:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13399 The transferee's statutory duty to deduct tax at source on payment for immovable property requires timely deposit to government and submission of Form 26QB and Form 16B; failure to deduct or to remit within the prescribed period attracts statutory interest on delayed remittance and a separate late filing fee, and belated payment after the event does not absolve the payer where there is no contemporaneous evidence that the payee was an exempt institution or that the payer received specific authoritative instruction not to deduct. Articles Income Tax Sat, 25 Jan 2025 11:42:11 +0530 https://www.taxtmi.com/article/detailed?id=13399