Department is charging interest on late ded of tds 194ia

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rajesh (Querist)
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20 May 2016 I purchsed a house for Rs.60 lacs in June 2015.
I had paid the sum to seller account on 05.06.2015 and deposit TDS on it on 01.07.2015, which is within the time limit of section 194IA. while generating the 26QB, i had mentioned the date of transaction as 05.06.2015 and date of TDS deposit as 01.07.2015 as per my understanding. but now income tax is asking me to deposit Interest on Late Deduction under section 201 for two month. please guide me why income tax is asking interest when i had paid TDS in time.

regards
Raj

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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20 May 2016 Because the column viz., 'date of deduction' in 26QB might have filled in as 1-7-2015.

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rajesh

rajesh (Querist)
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23 May 2016 Thanx sir for your valuable reply, pl guide me how to get it corrected so that demand of late deduction of interest can be dropped.

thanx in advance

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