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26qb - penalty notice received
I have purchased an under construction property for which I failed to deduct TDS while making payments to builders. However in Jan 2016, I made the payment of TDS to govt along with interest @ 1.5%
I now have received a demand notice for penalty due to late filing of 26 QB. My questions are
1. I have filled and submitted eight such 26QBs (one for each installment payment) Any idea why have I got the notice for only one such 26QB and what are the chances of getting the notice for others?
2. Possible options of responding to this notice?
Replies (1)
The Notice would have been issued for Late Deduction of TDS. Verify the same by downloading the justification report and pay the demand raised. If there is late deduction in all the other instances also,then you are likely to get demand notices for the remaing too.
Now, a separate option is provided for demand payment for TDS on property.
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