Payment to Non-Resident| How to file TDS return - Form 27Q| New Process
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- Опубліковано 1 жов 2024
- How to file TDS return(form 27Q-payment to Non-Resident) using free Software by IT Dept| New| Latest
Expert Tips And Tricks To Buy A Property From An NRI ! - • Are you sure of buying...
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TDS return(form 27Q-payment to Non-Resident) - • Payment to Non-Residen...
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How to issue Form 16A - • How to issue Form 16A ...
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If Seller/Deductee is a Non-Resident
TDS is required to be deducted as per provisions of section 195 of Income tax Act, 1961 (contents.tdscp...)
All details regarding the transactions related to TDS on Property are required to be furnished in Form 27Q statement as 'Long/Short Term Capital Gain'. For 27Q, Buyer/Deductor need to apply for TAN
After depositing the TDS, the Buyer/Deductor of the property would also be required to issue Form 16A to the Seller of the property in respect of the TDS deducted and deposited in the central government account.
For more information on this - incometaxindia...
Form 27Q
Quarterly statement of deduction of tax under Sub-section (3) of Section 200 of Income Tax Act, 1961 in respect of
payments other than Salary
made to non-residents
contents.tdscp...
Documents list to help you file faster
Return should be prepared through latest NSDL Return Preparation Utility. To download go to www.tin-nsdl.c...
www.protean-ti... (Latest Website)
Once the file has been prepared as per the NSDL Return Preparation Utility , it should be verified using the File Validation Utility (FVU) provided by NSDL e-Gov. To download latest versions of FVU go to www.tin-nsdl.c... (Needed if it does not get installed with RPU automatically)
Form 16A
Certificate under Section 203 of Income Tax Act, 1961 read with Rule 31(1)(b) for tax deducted at source in respect of income other than Salary. This form is mandatory and can be downloaded from TRACES in future
contents.tdscp...
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Dear Bharat, I am truly thankful to you for your near perfect video on the process of 27Q and form 16 A, no amount of research can do what you just helped me accomplish in a short span. Thank you very much. Regards
Glad it helped 🙏🏻
Hi Bharat , the compressed file created video part is not clear. Is the compressed file autocreated? Or you self created it by selecting the form 27A PDF using any zip software or it is the .fvu file that got created is zipped? Please help clarify this. This is the only piece which is not clear. Rest video explanation is super smooth. Please help
You need to compress the .fvu file by yourself into a .zip and upload that. That step is missed in the video.
@@saurabch1583 Thanks , that's what even i thought
Dear Mr Bhat, my seller did not opt for lower TDS, if we leave the "certificate issued by assessing officer u/s 197 under Deductee Details tab" blank, there is an error during validation.. can you pls advise me to resolve.. thanks
This video was really helpful, some of the auditors struggled to help me on this. After watching this video, I did it on my own within couple of hours. Thanks so much Mr. Bharat.
Glad it helped!
Hello Mr. Bharat - Thanks for the detailed explanation. This was exactly what I needed. Specially when most of the CAs (I contacted) didn’t even know that I would need a TAN.
The only doubt I have is, my seller did not opt for lower TDS, it was the normal rate. In that case what should be the selection under Deductee Details tab for the sections: “Remarks”, “IT act(a) and DTAA(b)” and “Whether Deductee opting out of taxation regime u/s 115 BAC (1A)”
Hello Mr. Bharat - Thanks for the detailed explanation. This was exactly what I needed. Specially when most of the CAs (I contacted) didn’t even know that I would need a TAN.
The only doubt I have is, my seller did not opt for lower TDS, it was the normal rate. In that case what should be the selection under Deductee Details tab for the sections: “Remarks”, “IT act(a) and DTAA(b)” and “Whether Deductee opting out of taxation regime u/s 115 BAC (1A)”
Sir, I paid TDS and generated challan on 18th July 2024, but in RPU tool its only showing Q1 for FY 24-25. Shouldn't I be selecting Q2?
One step is missed - After the .fvu file is created, you have to zip that file. In the video it does not show that. When you go to file the return on e-verify site, it will ask for .zip file and not the .fvu file. So the person filing must zip that .fvu file and then select that on e-verify portal
Hi Bharat, Thank you so much for explaining every bit of this complex process! I find your videos really helpful.
Can't generate challan file as I paid challan during 2024 while it shows only 2023..
What is the case in which no pan is there
Yes same query too
Very useful .. Thanks
Glad it helped 🙏🏻
Details or total payment and TDS deducted should be same. As the total tax deducted is equal to actual. 20.8%
Royalty paid to foreign company u/s 195, iam filing 27Q, PAN not available for foreigner what to be mentioned.
Yes same query
If we choose other income then it will pick 30% tax instead of 20% in case of long term cg
Can I file from 27q for payment made in July month?
May be we should not be selecting Other income in Nature of remittance.
In your case, deductee had lower tds certificate, so you didn't face any problem.
Tax is 30% for other income remittance.
So correct option I think is Long Term capital Gains (Others).
Thanks for your input.. Maybe some one more used to the can comment and confirm here..
Beautifully explained. professional Level.Thanks
Brilliant explanation Sir! Thank you for this. Just one correction suggested - also pointed by other member in comments. No need to use 'Other Income' but can use LTCG u/s 115E of NRi (if that is the case) and leave other fields blank. It will still accept and verify.
Thank you 🙏🏻
I am glad both LTCG AND Other income are working for you.. !
Form 27q tds return filed kiya tha but 26AS me show nahi kr rha
Thank you for this video sir. One confusion is in annexure 1 'amount paid/credited' . For a total of 1cr property where 90 lac was paid to deductee and 10 lac deposited in TDS what should we fill in this field ?
90L
Hello Mr. Bharat - Thanks for the detailed explanation. This was exactly what I needed. Specially when most of the CAs (I contacted) didn’t even know that I would need a TAN.
The only doubt I have is, my seller did not opt for lower TDS, it was the normal rate. In that case what should be the selection under Deductee Details tab for the sections: “Remarks”, “IT act(a) and DTAA(b)” and “Whether Deductee opting out of taxation regime u/s 115 BAC (1A)”
Hello Mr. Bharat - Thanks for the detailed explanation. This was exactly what I needed. Specially when most of the CAs (I contacted) didn’t even know that I would need a TAN.
The only doubt I have is, my seller did not opt for lower TDS, it was the normal rate. In that case what should be the selection under Deductee Details tab for the sections: “Remarks”, “IT act(a) and DTAA(b)” and “Whether Deductee opting out of taxation regime u/s 115 BAC (1A)”
Hi Bharat, thanks for your video, it is helpful. One doubt, in my case, there are 2 buyers and 2 sellers and sellers have provided their LTDC. I have paid half TDS from TAN of buyer 1 and remaining from buyer 2. I just paid cess separately as I missed during TDS payment and therefore I have 2 challans. How do I populate these details and ensure no error?
I have deducted 23.92% Including Surcharge and Cess, Should I have to fill 23.92% at rate at which tax deducted? or what else?
beautiful presentation. sir i have 2 doubts. 1. i have collected 20% puls surchare and cess. pls let me know if i should mention it as 20% or net rate incuding surcharge and cess.
2. My case was long term capital gain, there are more heads in capital gain to scroll down but only the fist two words are visible, pls advice me if i can mention other income
Thank you. Please let me know if the property is in joint names (i.e sellers), whether TDS to be separately paid equally in the name of both the sellers?
You have omitted the 15CA acknowledgement number, What can be done if one missed out filing 15CA
Very nicely explained. Very much useful for a beginner.
Glad it helped 🙏🏻
Good explanation sir but I have to file 27q for technical services and interest. While filing I am getting alot of errors like tax residency certificate number is wrong , address , pan etc. Would you plzz guide me to complete these filings
Thanks for the video. But how does one make a payment of 1% (or whatever withholding percent) to the tax department?
Hi Bharat, wonderful video. Thank you for creating this resource. I have registered with my TAN but awaiting a confirmation, would you know how long does it take?
Is DSC required for final submission..and what's the last date ?
Can anyone help
Hi sir,
What in case of 2 seller and 2 buyers?
Consideration Value is 49lac.
1 is NRI seller and 1 is resident indian seller. (Daughter & Mother)
And we are JOINT Buyer we have generated 2 challens and paid already for TDS as we are joint buyers.
Then how it will be for the 27Q to furnish details of seller.
Should we file 27Q only for NRI seller and what amount to mention as we have deducted TDS on 50% of consideration value and paid in 2 challans.
Do we need to file 2 form 27Q as there are 2 challans ?
Also do we need to fill 26QB ? or mention any details of other seller in 27Q for which no TDS deducted ?
Expert Tips And Tricks To Buy A Property From An NRI ! - ua-cam.com/video/POq_DZmV_94/v-deo.html
How to apply for TAN - ua-cam.com/video/B0e2tiQJ8iU/v-deo.html
Pay TDS - Can use TDS Return (234E) link
TDS return(form 27Q-payment to Non-Resident) - ua-cam.com/video/mkQDF0BtRQM/v-deo.html
How to register on Traces Website as Deductor - ua-cam.com/video/PxPTgdI0rx4/v-deo.html
How to issue Form 16A - ua-cam.com/video/-5JS38z30no/v-deo.html
TDS return U/s 234e (Late Filing) - ua-cam.com/video/YEglG9c2pt4/v-deo.html
Change Owner(Name/ Mobile) in Property Tax - ua-cam.com/video/jadMirj6PvU/v-deo.html
Pay Property Tax Online - ua-cam.com/video/ZQoAbxlXcB0/v-deo.html
@@BharatArora5 I have watched all those videos of yours but above questions were not answered in that so asked here ...!
Hi, i have same query, if Bharat you can please guide.
Me and my spouse deducted TDS 10 percent each but got intimation for less deduction. How to deal with this issue.
2 buyers and 1 NRI Seller
Do we need to also deduct surcharge if NRI seller has presented lower TDS certificate. I got notice from IT dept, even though I deducted at the same rest as mentioned in Lower TDS certificate but they have sent notice mentioning that I deducted around 4% less which I think is the surcharge. Please answer
Expert Tips And Tricks To Buy A Property From An NRI !
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Bhai kya hua aapke notice ka?
Aapko pay krna pda kya vo 4% extra ?
As per demand I have to pay that extra demand. But it wasn't clearly mentioned anywhere that we have to deduct TDS on lower certificate rate
@@prateekkhurana2822aapka to loss ho gya hoga bhot bewajah
Normal computing method is LTCG 20% + Edu cess 4%. As you have obtained lower rate. You have to deduct TDS at lower rate + 4% edu cess.
after adding address , phone no., email id of deductee.. it is showing error as INVALID value while generating return. and if i remove all the fields there are no errors showing. what to do? whether i should enter those details or i can leave it blank?
Hello Sir, for filling form 15CA, should i use PAN or TAN as login ID ?
I am facing an issue with RPU 4.7 onwards. It generates the fvu file with a ".enc" extension, doesnt generate the PDF statement and throws an error in fvu.log about not be ing able to find the e-mudhra.cer file. Can you help please if there's a workaround.
Amazing video it helped a lot in understanding the process
Glad it was helpful.. Thank you for appreciating 🙏🏻
This video was quite helpful to complete a form 27q. I have a suggestion - You can edit reference to OLTAS website (in the 17th minute of the video) for downloading CSI file. Now, the download has to be from Income Tax Portal. Otherwise, overall all the other information was appropriate. Thank you for taking time to put together this vido.
Thank you so much for updating, let me pin this comment so it shows in the top..
@@BharatArora5 I wanted to add one more point for viewers checking out this video. I got into a minor issue following the contents to the "T" and received a demand from the Tax authorities and did a correction to rectify this. In the section/tab related to Assessee, after Section 195, (at 15.21 minutes) Instead of selecting Other Income, deductors should choose the appropriate section as an example - Long Term Capital Gains us/112 (for property), 112A for shares, short term capital gains etc., The Tax rates are different for each of these. Varies from 10% to 30%. Other Income can mean a 30% TDS vis-a-vis 20% for Long-Term Capital Gains on Property (excluding surcharge and cess). Thank you
@@venkatramanathanmrhow were you able to update or make changes to the form? Can you please write that as well? Seems like I have made that error!
@@SanketSoni-sq4rs @SanketSoni-sq4rs Sure thing. The need to correct arises if there is an error in the original submission. There could be multiple reasons. In my case, the form I had prepared had a higher rate and this resulted in a demand for additional tax and interest. Hence, I followed the below procedure:
1. When I receive a communication from the department of additional tax, my return would not be accepted and will be in a pending state till I pay the amount or correct the earlier return.
2. To correct the return, apply for a Consolidated File. You will get it within 24 hours after applying. (one can also apply for a Justification Report to know the reasons for the additional demand).
3. Along with the quarterly return template and the consolidated file, you should select correction and the form will allow you to make a correction. In my case, I changed the section under which I am making the payment and the correct rate was authomatically applied.
4. Prepare a fresh fvu file, zip it and and upload it through the IT portal.
5. Wait for couple of days to know the status. If its approved, you can proceed to prepare Form 16A.
Thank you
@@SanketSoni-sq4rs @SanketSoni-sq4rs @SanketSoni-sq4rs Sure thing. The need to correct arises if there is an error in the original submission. There could be multiple reasons. In my case, the form I had prepared had a higher rate and this resulted in a demand for additional tax and interest. Hence, I followed the below procedure:
1. When I receive a communication from the department of additional tax, my return would not be accepted and will be in a pending state till I pay the amount or correct the earlier return.
2. To correct the return, apply for a Consolidated File. You will get it within 24 hours after applying. (one can also apply for a Justification Report to know the reasons for the additional demand).
3. Along with the quarterly return template and the consolidated file, you should select correction and the form will allow you to make a correction. In my case, I changed the section under which I am making the payment and the correct rate was authomatically applied.
4. Prepare a fresh fvu file, zip it and and upload it through the IT portal.
5. Wait for couple of days to know the status. If its approved, you can proceed to prepare Form 16A.
Thank you
CA. Ramanathan
Hello. Thanks for your informative video. As you mentioned in last of video that there is penalty to late filing of 27Q of few hundreds every day. Does it still apply if the tds was deducted on time but 27Q is filed after 6 months from tds date.
Thanks Bharat for sharing the complete process.
Happy to help !
Thank you very much; nicely explained;
Hi @Bharath, Thanks for the great video. Can you clarify in the Annexure 1, Amount Paid/Credited, Should we fill actual amount paid after TDS deduction or total sale consideration before TDS deduction?
I have the same query. Did you get answer? As an example If total consideration is 1Cr, you pay 10 Lac downpayment. Presume 20 percent tax rate. You pay balance amount of 70 Lacs and 20 Lacs tax. Should the total consideration be 1 Cr or 80 Lacs and what should the date be
Have you got your answer
Sir property sale value is 1.2 Cr from nri, if 2 buyers jointly purchasing it, then individual share will be 60K then what will be the surcharge added by each individual during tds ? Is it 10% as individual share is less than 1cr or 15% as total sales value is more than 1cr ?
Expert Tips And Tricks To Buy A Property From An NRI !
ua-cam.com/video/POq_DZmV_94/v-deo.html
Since I am individual person i don't have TAN number so how to pay 27Q payment.
How to apply for TAN online in 5 minutes !!
ua-cam.com/video/B0e2tiQJ8iU/v-deo.html
Suppose we r making payments to foreign university Tds is deducted nd paid. So for filing, we don’t have pan num of deductee so what should I do
Please check out this video.. Hope this answers..
ua-cam.com/video/POq_DZmV_94/v-deo.html
Great explanation. I have a question about the quarter that we need to select on the first page of RPU. I paid TDS on 21-Jan, which falls in Q4. On the same day I am trying to file form 27Q using RPU tool. But the RPU tool only has options for Q1, Q2 and Q3. It does not list Q4. Should I wait till end of Q4 to use this tool and file form 27Q? Am I doing something wrong?
I am also facing similar issue, Have you got any solution around it? let me know if you got something on this.
For Q4, filing option is available after March of that financial year.
This utility do not allow to proceed further withoud the PAN details. but in case od NR what if the NR do not have any PAN so what should i put there?
Same issue iam getting, without PAN No of deducte it's not generating output file.
Same issue deductee dose not have pan what to do?
@@prachi_chiii5296 you can write "PANNOTAVBL" in it
Thank You for the detailed video.
Glad it was helpful!
Hello sir, if using my TAN I deducted tax so how can I get TDS certificate
How to issue Form 16A | Form 16 vs 16A | All issues solved !
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There are joint buyers and joint sellers.....and the challan has been paid in installment and what will be the prevailing rate on the ldc approved amount?
Expert Tips And Tricks To Buy A Property From An NRI !
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Hi.. Thanks for the detailed info.. I have one query. I have successfully generated the fvu file but I didn't get the zip file while I need to upload in income tax e-filing portal. Can you please help on this?
You need to compress the .fvu file by yourself into a .zip and upload that.
Hello Sir, you have mentioned the error in respect of contact of deductee field. To overcome which you suggested selecting 'Other Income' as nature of remittance. But by doing so, there has been a demand raised because of the differential tax rate.
Can you please share any insights, on how to resolve this error ( T-FV-4336 Invalid value. Please provide valid value under field ‘Contact number of deductee'.) while choosing remittance details as LTCG. Many thanks in advance for your guidance.
Did you get an answer to this? Same happened with me as well
Did you get an answer to this? Same is happening with me as well.. please help
whether the deductee opting out of taxatin regime u/s 115BAC (1A) ?
Expert Tips And Tricks To Buy A Property From An NRI !
ua-cam.com/video/POq_DZmV_94/v-deo.html
Sir , First of all it is the best video I saw over youtube so far regarding 27q form . I have one query here regarding my return filing.
I generated two challan of tax paying to NRI one is of June month and second is of Julymonth. Property purchase happened in July.
So how I can file return of those two challans because any how i need to take one 27q form for both.
and if possible could you help me to file return on behalf of me . We can discuss about your charges and all . Please reply or connect.
Thank you for appreciating.. I apologise but i do-not file these as a profession.. i followed the process for myself so made a video that could help others :)
Its okay then. Can you please also give reply or suggestion of my query
Could you please advise on the new process for Q1 23?
Should we submit form 27A at tin facilitation centre manually? Id there no alternative?
Sorry i think the video was on 27Q, the process for which is online
My CA is saying the form 27q return has not opened yet. Is he correct?
Please check out this video.. Hope this answers..
ua-cam.com/video/POq_DZmV_94/v-deo.html
Sir can you make a video on how to download form 16 after making payment and filing the tds return.
Thank you
How to issue Form 16A | Form 16 vs 16A | All issues solved !
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How to register on Traces Website as Deductor for first time| TDS Login| New Registration with TAN
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Pay Property Tax Online in 2 mins| New Process | No Dues Certificate| House Tax
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Tds challan details not showing how to download file than
Sir, i am not able to register tan with tan account, it says go to traces and it says i did not paid any go to income tax site, kindly help please
How to register on Traces Website as Deductor for first time| TDS Login| New Registration with TAN
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Pay Late Filing Fee| File TDS Correction| TDS return U/s 234e | Online| New Process
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Thanks Sir@@BharatArora5
Tq so much sir, it helped me a lot in uploading 27Q
You are most welcome.. Glad it helped 🙏🏻
hi bharat
Hello
hi,
i purchased property from nri worth 24 lacs. deducted tds of 549120(22.88% including surcharge and cess). filed tds return 27q successfully, and received intimation for short deduction of rs 199680. it seems tds return is processed considering 30% tds rate.
what to do in such a case. plz reply soon.
Maybe clarify back on why is there an extra demand ?
The same happened with me and they informed it's due to nature of remittance - Others, or DTAA country not having DTAA with India. I had not selected DTAA option so I guess the issue is only with nature of remittance. Can you advise which is correct? My guess is LTCG or STCG based on the years of property. Can you check which one in LTCG if that's the correct one? @BharatArora5
@@BharatArora5, hey Bharat, can you pls advise on this? Its nature of remittance or DTAA selection which is causing this demand as per traces.
Hi @sapnayeolekar4156, can you tell me how was this issue resolved. I am getting the same error.
@@sapnayeolekar4156 rectify statement by selecting nature of remittance as LTCG. By selecting others option, the system calculates TDS @ 30% and thats why demand arises.
Thanks for the detailed video. I have small question for you. Do I need to ePay tax in two separate transactions and get two separate challans if there are two sellers? Or I can use single challan details for filling two 27Q forms?
Please let me know if this is answered
Please check out this video.. Hope this answers..
ua-cam.com/video/POq_DZmV_94/v-deo.html
You have to get TAN seperately for each buyers and remit TDS under it and file TDS returns seperately for them.
Thanks for the detailed explanation!
I'm in a similar boat but the NRI are joint sellers and wanted to know if one needs to divide tax in equals halfs and make two tax payments using TAN? Also does one need to file two form 27q or one with two rows for each seller?
Did you get your question answered or found the solution on this query?
Please check out this video.. Hope this answers..
ua-cam.com/video/POq_DZmV_94/v-deo.html
Please check out this video.. Hope this answers..
ua-cam.com/video/POq_DZmV_94/v-deo.html
Can we file form 27q before quarter ends ?
The due date for filing Form 27Q
Q1 1st April - 30th June On or before 31st July
Q2 1st July - 30th September On or before 31st October
Q3 1st October - 31st December On or before 31st January
Q4 1st January - 31st March On or before 31st May
Really helpful, thankyou
Glad it helped 🙏🏻
What if the Rate of deduction is 0% (As the seller applied for lower deduction certificate)
What is the question in that case ?
@@BharatArora5 How to file TDS Return in that case.. There is no challan in this case
I guess theres no need then ?
@@BharatArora5 I don't think so... TDS return is compulsory.. But I don't know how to file it without challan
Yeah i am not sure, might have to check