Penalty u/s 271c

This query is : Resolved 

22 March 2016 Sir's and Friends,

One of my friend had purchased a flat for Rs. 69.25 Lacs during FY 13-14, While making payment to the seller he did not deduct TDS @ 1% U/s 194IA, He has received now a notice claiming demand under this section, Please help and let me know i such a case what should be done, failure of which may attract penalty U/s 271C as per IT Department's letter, please let me know the way to handle this .

Best Regards,
Yajuvendra Rawat

23 March 2016 If the seller had filed income tax return, seek a copy from him/her and the buyer may file a letter in reply to the referred notice attaching therewith copy of the said IT return with a request that the buyer may not be treated as an 'assessee in default' and may be exonerated from the proposed penalty proceedings in view of the proviso to section 201 (1) of the Income tax Act,1961.


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