25 December 2023
A buyer brought a property for Rs. 1,00,00,000/- and deducted TDS Rs. 1,00,000/- and paid to the government under 26QB.
Now there were two joint holders of sellers A & B. Now While filing and payment of Rs. 1,00,000/- TDS PAN of seller A was filed and not of B. That is instead of Paying 50,000/- with PAN of A and 50,000/- with PAN of B. The Buyer only paid Rs. 1,00,000/- with PAN of A.
Now I need to rectify the same. What is the procedure?
One suggestion I received was to pay Rs. 50,000/- more with PAN of B and then Apply for rectification for Rs. 1,00,000/- paid. Lastly after the rectification File for Refund of Rs. 50,000/-.
Can someone guide be to the whole process? How much time will it take and How much a CA will charge for doing the said procedure.
26 December 2023
Accept the suggestion for payment of 50,000 for PAN of B. Rectify the TDS return already filed and claim refund of excess TDS paid. Pay Rs 1000 for the service.
CAclubindia
