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.
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