One of my clients had their Form 26QB filed by a lawyer, who deducted TDS at 1% without verifying the PAN. However, since the PAN is non-operative, TDS should have been deducted at 20%. Now the client has approached me for a solution. Could you please guide me on the process to rectify this issue?
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"Form 26QB Filed with 1% TDS for Invalid PAN – Needs Immediate Help
Replies (3)
You have to wait for short deduction demand notice from TRACES, till then you cannot do anything.
Sir, The demand has already been received. Could you please guide us on the process to apply for a waiver of the demand?
Your assistance in this matter would be greatly appreciated.
If PAN was inoperative at the time of deduction of TDS, the demand cannot be waived (relief was available till 31.05.2024), Need to deduct excess amount from the deductee.
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