Tds

This query is : Resolved

Kamal Vyas (Querist)
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10 May 2017 Dear Experts,

One of our client is Private Limited Company and they have deducted TDS under section 194IA i.e. on transfer of immovable property but they paid TDS under section 194I through challan paid in bank mistakenly.
Kindly let us know what solution is available now ??

Thanks in advance.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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10 May 2017 Though section 194I pertains to TDS on rent, in my opinion if TDS is made u/s 194IA at correct rate and in the TDS return if correct section is mentioned than credit can be taken.

Kamal Vyas

Kamal Vyas (Querist)
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16 May 2017 Sir,
How can we take the credit as we have to make payment through form 26QB (TDS on sale of immovable property) but they have simply paid tds under setion 194I which is for rent ?? How the seller of the property will get credit in his 26AS form when TDS is not paid as per requirement of law ?? Kindly suggest remedies available ??

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