TDS Notice u/s 200A/ 206CB
This query is : Resolved
Quick Summary
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?
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?
04 November 2023
You have rightly paid the TDS at 20% plus cess on 61 lacs.
Download justification report and find any difference.
Download justification report and find any difference.
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 ??
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 ??
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.
You have rightly deducted TDS no short deduction.
Meet your jurisdiction ITO TDS he will guide you.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Tds on commission charges
- Fixe term employment
- GST ITC REVERSE
- Regarding Applicability of Tax Audit u/s 44AB
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Consolidated financials
- Section 50-fixed asset-->building ceases to exist
- TDS on TRUST
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
