Section 194-IA
This query is : Resolved
29 August 2023
I have Purchased a property worth Rs. 2 crores. jointly with my father, and i have registered a agreement to sell on 09.06.2023 with advance amount of Rs. 20lacs and there t deducting TDS @ 1% on same Date.
But the property was going to be registered on 04.09.2023, i have deducted TDS @ 1% on balance Rs. 1.80 crore. on 21.08.2023 on the assumption that the seller pan is linked to aadhar but the seller is non filing assess and has not linked PAN with AADHAR.
i had Received a notice from TDS Department on 23.08.2023 that i have to deduct 20% TDS ob Balance Rs. 1.80 crore.
Now on 29.08.2023 seller AAdhar PAN is Linked.
can approach AO for same as PAN is linked and Plese wavie 20% as i Have already Paid 1% TDS On Sale of Immovable Property.
Please Reply at the earliest with best solution
But the property was going to be registered on 04.09.2023, i have deducted TDS @ 1% on balance Rs. 1.80 crore. on 21.08.2023 on the assumption that the seller pan is linked to aadhar but the seller is non filing assess and has not linked PAN with AADHAR.
i had Received a notice from TDS Department on 23.08.2023 that i have to deduct 20% TDS ob Balance Rs. 1.80 crore.
Now on 29.08.2023 seller AAdhar PAN is Linked.
can approach AO for same as PAN is linked and Plese wavie 20% as i Have already Paid 1% TDS On Sale of Immovable Property.
Please Reply at the earliest with best solution
30 August 2023
When you made the payment of 1.80 crore.
30 August 2023
Payment I haven't made yet Demand draft I have taken but my lawyer had suggested me pay TDS in advance
30 August 2023
Reply to the notice as on the date of payment PAN is linked. Mention the date of payment and date of PAN linked.
It's only TDS paid in advance and say 1% TDS deducted is as per the provisions of the Income tax Act.
It's only TDS paid in advance and say 1% TDS deducted is as per the provisions of the Income tax Act.
30 August 2023
Does Assessing officer would Relay on the fact that it was paid in advance. But payment has not been made
30 August 2023
and if the AO denie the fact And ask me to Pay 20% TDS as on date of payment of TDS @ 1% Pan was not linked.
What would be notice Reply i should Quote to AO
What would be notice Reply i should Quote to AO
31 August 2023
Reply on the date of deduction it's linked.
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