Payment of penalty for delay in payment of tds

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prasanna rao (Querist)
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20 January 2015 recently my father sold a house property and buyer deducted TDS u/s 194 IA but did not deposited with government. TDS is overdue by 15 days and buyer is adamant on not paying penalty of 1.5% on TDS amount.
my query is whether our refund claim will be affected due to non payment of penalty as we have deposited capital gain account with national bank and there is no tax liability? also i want to know whether we can pay the penalty now as it is very nominal amount?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 January 2015 Your refund will not be affected by non payment of 1.5% interest. Only the buyer is liable for the amount. Dept. will issue notice and recover the amount from him.

Rupesh Jain

Rupesh Jain (Expert)
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20 January 2015 YOU REFUND NOT EFFECT DUE TO NONPAYEMNT OF PENALITY.
YOU CALIM THE TDS . NOT THE PENALITY.

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Payment of penalty for delay in payment of tds

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