Resolution for Notice u/s 245/245(1)

This query is : Resolved

Rishi Gangoli (Querist)
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24 July 2024 Hi,

I had received a demand notice towards TDS on my house sale in Jan 2024. The sale was executed in Oct 2022. The demand has been erroneously raised, as there are 3 co-owners for the flat and the TDS was paid in my name only, by the buyer's CA. We have submitted a response against said demand, stating that the TDS shown for Seller OR Landlord of Property is deducted under 1 PAN by buyer but there are 3 sellers as per agreement in the equal ratio. The share of capital gain is equally calculated in all 3 files. This is the reason for lower income in computation as compared to 26AS.

However, we have yet not received any reply/resolution to this. What would you advise me to do? Is there a provision to file a revised TDS for this transaction? I was told by the buyer's CA that the date for the same has been crossed already.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 July 2024 You can check the demand status in your e-filing profile after login.

Rishi Gangoli

Rishi Gangoli (Querist)
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25 July 2024 Yes, have been checking it periodically. However the status remains as is. The interest keeps increasing though.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 July 2024 So it is open and demand not cancelled.

Rishi Gangoli

Rishi Gangoli (Querist)
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25 July 2024 Yes. Wanted to understand how to approach this now.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 July 2024 You had already replied to the demand, which was not justified properly. Now you can only approach your ITO with well experienced professional to reopen the query & get it resolved.

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