Resolution for Notice u/s 245/245(1)
This query is : Resolved
Quick Summary
Rishi Gangoli
(Querist)
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.
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
(Expert)
25 July 2024
You can check the demand status in your e-filing profile after login.
Rishi Gangoli
(Querist)
25 July 2024
Yes, have been checking it periodically. However the status remains as is. The interest keeps increasing though.
Dhirajlal Rambhia
(Expert)
25 July 2024
So it is open and demand not cancelled.
Rishi Gangoli
(Querist)
25 July 2024
Yes. Wanted to understand how to approach this now.
Dhirajlal Rambhia
(Expert)
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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