17 March 2024
Hi Expert I have one case where purchase consideration is being paid in installments, First Installments was made on 15 Nov 23 and buyer is forgot to deduct TDS,
Although he deducted the total TDS on 2nd installments on 15 Feb 24 (including previous TDS amt).
My question is , whether Buyer has to file 2 form 26QB like first is of Nov 23 and 2nd is of Feb 24 or Buyer can report in single form 26QB.
if buyer goes with first option then he also have to pay interest + penalty of Rs 200 per day from 30 Dec to till date max up to TDS amt.
In my opinion we can pay interest of TDS that was not deducted in first installments and file single form 26QB , Please correct me if i am wrong.
CAclubindia
