Hey there friend,
As a new flat owner, you are required to pay TDS. I will share my thoughts on the question ‘Is TAN compulsory for proprietorship’ ?
TAN is not required if your for proprietorship businesses whose turnover is less than Rs. 1 crore. TAN is not required if your proprietorship business which is rendering professional services is less than Rs 50 lakh.
In my knowledge, you don't need a TAN for paying TDS amount on immovable property. You can make the payment using your PAN. You will need to quote your PAN as well as the seller's PAN.
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I paid TDS for my new flat. I got an intimation with a demand of Late fee. When I try ITNS 281, it asks for TAN. Not sure, if I'm following the correct process and if I should apply and get a TAN before filling Late fee. TAN is mandatory on ITNS281. Please suggest
Anuj
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3 Year
2022-02-16T11:40:27+00:00 2022-02-17T23:35:31+00:00Comment
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