One of my client purchased property for Rs 127,50,000/- on December 2013. But failed to deduct TDS U/s 194 IA. The registrar has not asked any proof for Tax Deduction and registered the document. Now my client received notice from Income tax department to file the copy of the challan Form 26 QB. Is there any remedy for this? How to proceed further? Please guide me.
Your client have to file FOrm 26QB and Pay TDS along with Heavy Penalty and Interest.
Is it compulsory on registrar to get TDS proof. Since nowadays the registrar insisting TDS proof before release of documents.
If the seller admitted property sale in his return and paid capital gain tax, whether the buyer can escape from TDS liability and penalty proceedings
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
