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
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.
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
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- BIS Certificates
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Capital Gain on EUITY Shares
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
