T.D.S ON PROPERTY FORM 26QB
This query is : Resolved
07 April 2024
My Client purchased a property for 75 lacs and deducted T.D.S. on property @1% 75000/- from the seller and deposited the same th. FORM 26QB. on 24/09/2023
SELLER became SUPER SENIOR CITIZEN on 01/01/2023.
I.T.O. T.D.S. passed an order on Form 26 QB and determined the T.D.S. liability @20% in place of 1% and passed the order to pay the balance amount along with Interest.
A correction statement was filed and on receiving the quarry letter from A.O. T.D.S. all the required documents were submitted.
Meanwhile, it came to my knowledge that the PAN of the seller became Inoperative as the Aadhar is not linked with the PAN. I fulfilled the requirements of linking Aadhar with PAN and the PAN became operative in Feb’2024. I further submitted an affidavit along with operative PAN and Aadhar to A.O. T.D.S. He accepted my correction statement and passed the order on the correction statement. On receiving the order, it was found that the tax was determined @20% along with Interest.
On enquiring it was answered to me that the A.O. is unable to accept my contention of T.D.S. @1% in view of Notification No. 15/2023 dt. 28.03.2023.
So, I request you to kindly suggest and guide me the suitable remedy in this matter and oblige.
Yours faithfully
(PARVEEN KUMAR WADHWA)
ADVOCATE
SELLER became SUPER SENIOR CITIZEN on 01/01/2023.
I.T.O. T.D.S. passed an order on Form 26 QB and determined the T.D.S. liability @20% in place of 1% and passed the order to pay the balance amount along with Interest.
A correction statement was filed and on receiving the quarry letter from A.O. T.D.S. all the required documents were submitted.
Meanwhile, it came to my knowledge that the PAN of the seller became Inoperative as the Aadhar is not linked with the PAN. I fulfilled the requirements of linking Aadhar with PAN and the PAN became operative in Feb’2024. I further submitted an affidavit along with operative PAN and Aadhar to A.O. T.D.S. He accepted my correction statement and passed the order on the correction statement. On receiving the order, it was found that the tax was determined @20% along with Interest.
On enquiring it was answered to me that the A.O. is unable to accept my contention of T.D.S. @1% in view of Notification No. 15/2023 dt. 28.03.2023.
So, I request you to kindly suggest and guide me the suitable remedy in this matter and oblige.
Yours faithfully
(PARVEEN KUMAR WADHWA)
ADVOCATE
07 April 2024
once the order is passed, your only option is to file an appeal.
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
- Reporting Income under Section 44ADA
- Itr 1 processing
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Registration as Authorised Representative of minor
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- 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
