Error of Tax Applicability while confirming corrections in 26 QB

Others 20202 views 32 replies
Purchased property as an Individual from a corporate seller. The payment is to be made in instalments.While filling 26 QB form mistake was committed in mentioning the amount of instalment. The correction was done through Traces site and while confirming the correction the error has come as ";Tax Applicability mismatched with the PAN of Buyer'". In the Tax Applicability the corporate showing. please guide to resolve my issue.
Replies (32)
Kindly confirm the challan payment which you done, have you selected Major head code as Tax on Companies. As your seller is corporate, so Tax on Companies is applicable.
if selected Tax on other than companies then challan code correction require to be done.
In challan, tax code as 'Corporate' major head is selected
Your Corporate person is resident or non resident.
if seller is non resident then TDS rate 20% is applicable.
It is resident. the problem related to major head selection while correcting details in 26QB through Traces.
Select Tax Applicability as Income Tax Other than companies,
As buyer tax applicability is filled not seller in 26QB.
But as per originally filled 26 QB and Form 16 B, the tax applicability is mentioned as Corporate i.e. applicable to Seller.
Tax Applicability is verified of buyer not seller, you can verify the 26QB User manual available at income tax site.
Tax applicability is auto updated while filing the form.

Refer Attached Document and Inserted Note in red mark.

@ Pramod, i am facing the same problem. The major head is auto selected as "Corporation Tax (0020)" based on the PAN of the seller. But when i need to make a correction, it fails on the confirmation page stating "Major Head does not correspond to the Category of PAN of Buyer". 

How were you able to resolve this issue if you have ?

@ Pramod, @ Rohan - Any solution found for this? Facing the same issue while filing for correction. Originally system auto selected 0020 but now while correction it fails with error "Major Head does not correspond to the Category of PAN of Buyer".

@ Nikhil, i called the Traces helpline for the same and they mentioned that the major head should be 0021 only while making the correction as our PAN is that of an individual. 

I asked them the same thing regarding the major head being auto selected and they mentioned that it could be a UI related thing on the ITR portal for which they should be contacted separately.

In any case i was able to submit the correction after selecting 0021 on Traces and it was been approved by AO as well. 

Thanks Rohan. Much appreciate your help.

Hello,

I'm facing the same problem. So I contacted the TRACES helpline. They advised me to change Major Head to 0021. But it didn't work. So they asked me to mail the screenshot. In reply to the mail they again advised to go with 0021 and share the screenshot again. But it didn't work out, so I've again sent a mail and now waiting for the solution.

-Shridhar Kher 


CCI Pro

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