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.
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