Incorrect pan mentioned while deducting tds u/s 194-ia
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2013
While deducting TDS u/s 194-IA, the buyer has incorrectly mentioned my PAN number instead of the seller(the builder).
The credit is being reflected in my Form 26AS. However nowhere I am invloved in this transaction.
Now the buyer of the property is requesting me to return the amount credited against my PAN.
Is there any facility available to the buyer to correct the mistake online.
If not, at the time of getting the refund how will I satify the assessing officer that the TDS was credited by mistake.
The credit is being reflected in my Form 26AS. However nowhere I am invloved in this transaction.
Now the buyer of the property is requesting me to return the amount credited against my PAN.
Is there any facility available to the buyer to correct the mistake online.
If not, at the time of getting the refund how will I satify the assessing officer that the TDS was credited by mistake.
15 November 2013
Do not commit any error in quoting the PAN or other details in the online Form as there is no online mechanism for rectification of errors. For the purpose of rectification you are required to contact Income Tax Department.
Do not commit any error in quoting the PAN or other details in the online Form as there is no online mechanism for rectification of errors. For the purpose of rectification you are required to contact Income Tax Department.
15 November 2013
Dear Hemant,
There is no return in case of 194-IA.
Dear Gaurav,
The buyer needs to approach income tax department for correction in challan.
He shall have to do it as provided here: https://www.incometaxindia.gov.in/archive/LeftMenu_ChallanCorrectionMechanism_26082011.pdf
With regards to buyer's request for refund, in no circumstance should you agree to any such request. Letting the amount reflect in your Form 26AS would mean that you have sold a property and income tax department shall have every right to question you.
Make it amply clear to the buyer that he needs to get the challan details corrected.
There is no return in case of 194-IA.
Dear Gaurav,
The buyer needs to approach income tax department for correction in challan.
He shall have to do it as provided here: https://www.incometaxindia.gov.in/archive/LeftMenu_ChallanCorrectionMechanism_26082011.pdf
With regards to buyer's request for refund, in no circumstance should you agree to any such request. Letting the amount reflect in your Form 26AS would mean that you have sold a property and income tax department shall have every right to question you.
Make it amply clear to the buyer that he needs to get the challan details corrected.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
