buyer has made the default in deducting the TDS u/s 194IA for FY 2013-14 however, Seller has paid the tax i.(capital gain) etc Kindly advice now what buyer should do ?? he cannot now deduct tds (cannot collect the amount of tax from seller) & if buyer will pay from his pocket then there will be double taxation of same transaction... Note : buyer has received the notice on 4-3-16 for default made u/s 194IA. from IT department having sub of "Calling for info. regarding investment in immovable property" & gave time limit of only 10days to make the default good... kindly advice what should be done ???
CAclubindia
