Correction in form 26qb
This query is : Open
23 May 2016
My clients while paying TDS on immovable property erroneously entered agreement value of purchase of property instead of respective share of ownership. Case is assigned to ITO(TDS) for correction in amount. Now the officer is asking for previous years returns, proof of ownership ratio (which is never mentioned in the agreement) etc. My question is whether ITO(TDS) has rights to scrutinize the case this way? What are the rights to ITO(TDS)?
23 May 2016
yes it is his right, and also you have to agreement or any proof to prove that what is your share in property.
23 May 2016
Thanks Mr.Rupesh. But how to prove the ratio/share of ownership when it is not mentioned anywhere in agreement etc.? Loan is obtained in both husband and wife's name but it is not disbursed separately, it is given collectively so even loan ratio cannot be decided. How to go about it?
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