TDS DEMAND.
This query is : Resolved
Quick Summary
Suresh S. Tejwani
(Querist)
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..??
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.
If you deducted it after that, then you have to pay the short deduction demand.
Suresh S. Tejwani
(Querist)
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?
whether after linking pan with aadhar and then it can be revised or not?
18 January 2025
Whether the PAN Aadhar was linked before 1st June, 2024?
Suresh S. Tejwani
(Querist)
18 January 2025
NOT LINKED TILL DATE.
18 January 2025
In that case you need to pay the short deduction.
Suresh S. Tejwani
(Querist)
18 January 2025
There is no option for revise in that case? or otherwise.?
18 January 2025
No, because the pan is inoperative till date.
Suresh S. Tejwani
(Querist)
22 January 2025
IF I PAY SHORT DEDUCTION DEMAND FOR THE SAME THEN SUCH PAYMENT WILL BE REFLECT IN FORM 26AS OF SELLER?
22 January 2025
Yes......
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