TDS Notice u/s 200A/ 206CB

This query is : Resolved

Molin (Querist)
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04 November 2023 Hello
Person has bought Property from NRI
Purchase value 61L
Deducted TDS @23.92%
Paid TDS in Time.
Filed TDS return in Time

Then also got notice from traces

Defaults and/ or PAN Errors have been identified in the Regular statement filed by you for Q2 of FY 2023- 24 for Form 27Q and processed by ITD u/s 200A/ 206CB. Refer attached intimation for further details. Detailed computation of defaults is available in Justification Report which can be downloaded through TRACES. Please login to TRACES (www.tdscpc.gov.in) to request for Justification Report for the statement.

What could be solution?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 November 2023 You have rightly paid the TDS at 20% plus cess on 61 lacs.
Download justification report and find any difference.

Molin

Molin (Querist)
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05 November 2023 Short Deduction occurs due to following reasons:

A. PAN Errors
B. Certificate u/s 197
C. Other Reasons (e.g., Threshold, Tax Rate, etc.)

AS Per PAN Card pan no is Same which was input in returns 27Q

So know they have applied 30% TDS

Pls Let me know what is required to be done ??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 November 2023 30% tax not applicable only 20% tax applicable on entire sale value.
You have rightly deducted TDS no short deduction.
Meet your jurisdiction ITO TDS he will guide you.

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