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Home > Income Tax > Service Plans > Form 13 Filing Service Plan and Pricing Last Updated: Feb 14th 2024

Form 13 Filing (Nil / Lower TDS Deduction) Service Plan & Pricing

Service

  • Consultation and guidance on the need for Form 13.
  • Computation of Tax liability for the year in which Form 13 is filed
  • Filing of Form 13 with Traces.
  • Expert support through Email, phone & chat during the business hours.
  • Filing of your taxes if needed would be a separate service

Who should buy?

  • Any person who wants to apply for Nil deduction / Lower deduction of TDS
  • Any person who wants to apply for Nil Collection / Lower collection of TCS
  • NRIs who are selling property in India like to reduce their TDS by the buyer
  • Resident / non-residents who like to Obtaining a nil / lower withholding tax certificate

Process

  • Upon receiving the documents, our expert will call you before starting the process.
  • Analyse transaction type, understand tax residency status
  • Compute the taxes to determine lower TDS rate/nil TDS rate
  • Check applicability of DTAA, requirement to file taxes
  • Expert team will exchange the information through email and phone calls, if necessary.
  • Team will file Form 13.
  • Team will forward a copy of the Form 13.
  • Estimated Processing Time
    • Application: 2-5 Working days
    • Processing time by the Govt Income Tax Officer : ~30-60 days

Documents to be Submitted

  • Last 4 Financial year’s ITR or Income Tax Login credentials
  • Current Financial year income details
  • TAN and of Responsible person who is deducting TDS/TCS
  • Nature of Income (capital gains, rent, dividend etc)
  • Estimated income to be received from transaction.
  • Proposed Rate of lower deduction/collection.
  • Copy of Agreement of sale (at the time of sale) and Sale deed(at the time of purchase) in case of sale of property .

Additional documents that AO may request

  • Copy of Sale deed (at the time of purchase for the property in subject)
  • Copy of Passport (if you are NRI)
  • Draft Sale agreement (with the new buyer)
  • Copy of the Bank Statement that demonstrates the payments made at the time of purchase
  • Circle rate as on date of the application of Form 13
  • Home Loan disbursement letters
  • Proofs for Cost of Improvement (such as bills, agreements)
  • Any other documents requested by Assessing officer

Other Benefits

Every Service comes with the benefits such as

  • Faster Service
  • Guidance on Transaction
  • Guidance on Tax Filing (as needed @ times)
  • Guidance on TDS deduction
Form 13 Filing (Nil / Lower TDS Deduction)

from Rs. 4411
Actual Price  Rs.   5129  (  -14% Offer ) Use Discount Code A929460
Consultation, guidance on the need for Form 13, computation of Tax liability, Filing Form 13 with Traces for Nil / Lower TDS / TCS deduction when selling a property
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FAQ's

A comprehensive list of frequently asked questions.

1. What is Form 13?

Form 13 is the application to apply for Lower deduction/collection of TDS/TCS or Nil deduction/collection of TDS/TCS. Form 13 needs to be filed only in Traces website. Once the form 13 is submitted In Traces portal, it will be forwarded to Jurisdictional Assessing officer for approval.

2. I am an NRI and selling the property in India to resident buyer. Do I need to apply form 13?

Generally, TDS will be deducted by the buyer on the sale value instead of capital gain. Hence the TDS deduction will be higher. Hence it is recommended to apply for form 13 for NRI’s.

3. Can I apply Nil deduction of TDS in Form 13?

Yes, you can apply for Nil deduction of TDS or collection of TCS in Form 13 if you don’t have any taxable income.

4. How long it will take to get the Form 13 certificate?

It will take minimum 15 days to 60 days to get the approval of form 13 from Assessing officer. If the AO requires any documentation, he will raise clarification and you need to submit further documentation.

5. What will happen if the Form 13 don’t get approved by Assessing officer?

If the AO did not approve Form 13, the TDS will be deducted as per applicable rates as per Income tax act and the tax payer needs to claim refund of excess TDS by filing his income tax return.

6. Does the Form 13 have validity period?

Generally Form 13 will be valid from the date of issuance to the end of financial year unless it is cancelled by AO.

7. What is Circle rate of a property?

Circle rates are price estimates for the sale or transfer of a commercial property, apartment, flat or constructed home or a builder floor.

Local and state government revenue departments establish the circle rates. In India, the market prices are always higher than the government-established circle rates.

Refer Circle Rates for Property Valuation by State to know more background, rates and faqs