TDS DEMAND.

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If you've deducted TDS on an immovable property purchase via Form 26QB, but later discover the seller's PAN and Aadhaar weren't linked, you might receive a demand for short deduction. CBDT Circular 6/2024 offers relief for transactions up to 31.03.2024 if PAN becomes operative by 31.05.2024. However, for transactions after this date where PAN/Aadhaar remain unlinked, you'll likely need to pay the short deduction demand, as revising the return isn't possible with an inoperative PAN.

Suresh S. Tejwani

Suresh S. Tejwani (Querist)
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17 January 2025 If buyer deducts tds on purchase of immovable property by successfully filing 26QB but later on comes to know that seller's pan & aadhar is not linked and demand for short deduction had received then what to do in that case..??

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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18 January 2025 Vide circular no. 6/ 2024 CBDT specified that "for the transactions entered into upto 31.03.2024 and in cases where the PAN becomes operative (as a result of linkage with Aadhaar) on or before 31.05.2024, there shall be no liability on the deductor/collector to deduct/collect the tax under section 206AA/206CC, as the case maybe, and the deduction/collection as mandated in other provisions of Chapter XVII-B or Chapter XVII-BB of the Act, shall be applicable."
If you deducted it after that, then you have to pay the short deduction demand.

Suresh S. Tejwani

Suresh S. Tejwani (Querist)
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18 January 2025 What if, I entered into a transaction in november 2024 and deducted tds in december 2024 and aadhar pan is not linked.?
whether after linking pan with aadhar and then it can be revised or not?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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18 January 2025 Whether the PAN Aadhar was linked before 1st June, 2024?

Suresh S. Tejwani

Suresh S. Tejwani (Querist)
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18 January 2025 NOT LINKED TILL DATE.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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18 January 2025 In that case you need to pay the short deduction.

Suresh S. Tejwani

Suresh S. Tejwani (Querist)
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18 January 2025 There is no option for revise in that case? or otherwise.?