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26QB QUERY for TDS

ABHIJIT MANNA (ACCOUNTANT) (444 Points)

06 December 2022

I filed a 26qb form with challan. My total value of Consideration (Property Value ) was 59 lac, so I paid TDS on 59 lac i.e. 59000. But Total amount paid or credited was 57 lac. But in 26As of buyer shown 57000 instead of 59000. Why is it, although we paid challan of Rs. 59000.

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9 Replies

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 06 December 2022

Generally it will not happen like this .
Check the amount debited from bank account.

Might be technical error.

You may contact the IT dept once

7 Like

CA Raj Doshi (Practising CA) (8735 Points)
Replied 08 December 2022

You have mentioned Total amount paid or credited as 57 lakhs. TDS will be calculated on this amount. So no error from IT Dept per se. You should have mentioned 59 lakhs in amount paid or credited.

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 08 December 2022

If Challan is paid for 59000/- then it can't display 57000/- in 26AS of buyer .

You file the correction statement based on the 59lacs sale consideration

1 Like

CA Raj Doshi (Practising CA) (8735 Points)
Replied 08 December 2022

It can display only 57000 to the seller because the form 26QB was filed for that amount. Challan amount on the higher side has no relevance. Also, the differential amount of 2000 would be reflecting in 26AS of buyer

Using more precise terminology for ease when it comes to buyer ( buyer of property ) and seller ( seller of property )

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 08 December 2022

But the challan and tds return is same for 26QB

CA Raj Doshi (Practising CA) (8735 Points)
Replied 08 December 2022

Queriest mentioned 57000 in the form but paid 59000. I agree it is a challan cum return but on the bank website one needs to mention the amount manually

ABHIJIT MANNA (ACCOUNTANT) (444 Points)
Replied 09 December 2022

Thank you for all, but I did not get solution or what to do. I paid challan of Rs. 59000 because now a days actual amount paid or market value whichever is higher, has to be paid, That's why I paid 59000 because market value was 59 lac but actual amount paid or credited of Rs. 57 lac. why I put 59 lacs in paid or credited because I actual paid Rs. 57 lac. But I can not understand why reflected 57000 in seller 26AS.