Dear Tax Advisors,
I have recevied a notice from income tax department fro my wife, they are say it is discrepancy in Form 16 and Form 26AS. here are the detials
| Sl.No | Form used for comparison | Income as per Return | Income as per Form | Proposed addition of income |
| 1 | Form 16A/16-Other Income | 0 | 2026345 | 2026345 |
| 2 | Form 16/16A-Gross Total Income | 481659 | 2508004 | 2026345 |
| 3 | Form 16/16A-Taxable Total Income | 331660 | 2358004 | 2026344 |
it looks to me that they are including the amount which we have paid to builder by buying the new property on which we have deducted the TDS,
below are the detials from from Form 26 AS
|
ART A2 – Details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA(For Seller of Property) |
||||||
|
Sr. No. |
Acknowledgement Number |
Name of Deductor |
PAN Of Deductor |
Transaction Date |
Total Transaction Amount ( Rs. ) |
Total TDS Deposited** ( Rs.) |
| 1 | AD7275074 | XXXX KUMARI GARG | XXXXXXXXXX | 21-Jan-17 | 1,414,142.00 | 0.58 |
| 2 | AD6205275 | XXXX KUMARI GARG | XXXXXXXXXX | 21-Jul-16 | 612,203.00 | 4.97 |
| Gross Total Across Deductors | 2,026,345.00 | 5.55 | ||||
can some one please help me
Thanks,
Deepak
CAclubindia
