Tds under section 194ia instead of 194i

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This query is : Resolved

CA Parul Saxena (Querist)
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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

CA Pallav Singhania (Expert)
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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

Message likes : 1 times

CA Pallav Singhania

CA Pallav Singhania (Expert)
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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...

CA Parul Saxena

CA Parul Saxena (Querist)
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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????/

CA Pallav Singhania

CA Pallav Singhania (Expert)
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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

Ganeshbabu K (Expert)
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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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CA Parul Saxena

CA Parul Saxena (Querist)
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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

CA Pallav Singhania (Expert)
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29 October 2013 I don't think credit will be allowed under this situation....

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