Tds under section 194ia instead of 194i
This query is : Resolved
29 October 2013
TDS deducted by one tenant is showing under section 194IA instead of 194I in 26AS. what are the consequences of this???????
CA Pallav Singhania
(Expert)
29 October 2013
Make a letter with income tax explaing the mistake.
A copy of the letter...
https://www.caclubindia.com/forum/files_download.asp?msg_id=443845
A copy of the letter...
https://www.caclubindia.com/forum/files_download.asp?msg_id=443845
Message likes :
1 times
CA Pallav Singhania
(Expert)
29 October 2013
In my view,
Department may treat as TDS deducted but not deposited and may charge interest at 1.5 percent per month...
Department may treat as TDS deducted but not deposited and may charge interest at 1.5 percent per month...
29 October 2013
But Mr.Aryan we are the deductees not the deductors i have mentioned the mistake of deductor that is reflecting in 26AS.
Moreover 16A issued by deductor instead of 16B if it is deposited under section 194IA so what are the consequences of this to us????/
Moreover 16A issued by deductor instead of 16B if it is deposited under section 194IA so what are the consequences of this to us????/
CA Pallav Singhania
(Expert)
29 October 2013
Under this situation I don't think you will be penalize, you can ask for the deductor rectify and to revise the same...
Ganeshbabu K
(Expert)
29 October 2013
in my opinion better to ask deductor to revise his TDS return with proper details
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if it is not possible as a deductee we can leave these details and can file our income tax return as per correct details,,if department sought for any explanation we can reply to them about fact
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if it is not possible as a deductee we can leave these details and can file our income tax return as per correct details,,if department sought for any explanation we can reply to them about fact
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29 October 2013
m asking if deductor refuses to rectify whether credit will be allowed to us or not???
CA Pallav Singhania
(Expert)
29 October 2013
I don't think credit will be allowed under this situation....
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