Form 26qb corrction & late fee

Hello experts,

I have also received a notice from IT department "INTIMATION U/S 200A OF THE INCOME TAX ACT, 1961 AND NOTICE OF DEMAND U/S 156 FOR THE PAYMENT OF LEVY OF FEE U/S 234E OF INCOME TAX ACT, 1961".

Under same, they have asked to pay late fee which is the whole TDS on property amount already paid last year(March 2013) - Rs 54,500 plus the interest on late payment for 200 days.

I have heard that a notification is soon expected to come around April 15 on same. This is really the anarchy of deptt to charge hefty penalty amount from all tax payers.

Can you please provide your valuable views on tackling this issue?

Many Thanks.

Dear Members ,

I have received email from IT dept with follwing details. 

Defaults have been identified in the 26QB statement filed by you for FY 2013-14, PAN of Buyer XYZ and Acknowledgment Number XYZ and processed by ITD u/s 200A.

However they didnt metioned where to pay this money. I was not expeting them to be that helpful as usual. I am confused now, please provide me correct URL to pay this late payment (defaults). 

thanks 

Has any one come to a conclusion regarding what challan shall be used for the payment of the late fees and the interest 

hi Revati ,

We still waiting for experts to comment. couldy you please help us out. 

In case we need to pay challan 281 and what should be the 'nature of payment' 

plz help. 

Challan 280 has to be used for this purpose.

Under "Type Of Payment" select (400)TAX ON REGULAR ASSESSMENT

And on the tax payment page of your bank's website:

- Enter the Interest part (i.e Sl.No 1, 2 and 3 of Defaults) in 'Interest' field, total rounded off

- Enter the Late Filing fee u/s 234E (i.e. Sl.No 4 of Defaults) in 'Others' field

This information is correct to the best of my knowledge, however, please contact your CA or TRACES website to get it verified. I have recevied an intimation myself and have to pay an amount of Rs.11090.00 by 27th April 2015. This is what I could gather from all the posts on the net and from my CA

The query is resolved, please visit :

https://carevatigalgali.wordpress.com/2015/05/02/facility-to-make-payment-of-demand-raised-by-cpc-tds-against-tds-on-sale-of-property/

The procedure is self explanatory

Thanks a lot Revati..

Finally !!! , I am able to make this payment.. horriable experience for me due to this. I contacted many friends in india for about how to make this payment ..  but finally the whole confusion is cleared by TIN dept.  

I selected Demand Payment for TDS on Property for this and made epayment.

All good now. thanks once again. 

Dear Team,

I have received this mail "CPC (TDS) Follow up: 26QB Statement not yet filed for Purchase of Property during FY 2013-14"

Erroneously I had not calculated this part while filing returns. Kindly guide in as to how to find out the TDS amount to be paid and what is the procedure.

Kindly revert as soon as possible.

Dear Expert,

What is the way out if Buyer forgot to deduct the TDS and got the Income Tax department notice for 26QB.

Meantime, Buyer and Seller filled the Income Tax return within due date and got the refund U/S 143 (1).

Here can Seller can revise the income tax return and claim the refund of TDS amount now paid by Buyer.

Thanks

The only way out is to File Form 26QB now with Interest applicable.

Further, the seller can claim such TDS in next I.T. Return. There is an option to claim earlier years TDS in ITR Form.

I hope this information will be helpful to you.

I received the notice for non payment of TDS. While filling 26QB , I have put wrong PAN no. of seller in 26QB ,acknowledgement was generated however while doing payment through net banking I realized this mistake of wrong PAN no , therefore I cancelled the payment  

Now I have acknowledgment no. with  slip without TDS actually being paid . My query is whether 

- Can I generate another new 26QB and make payment as I undersatnd updating 26QB is tedious process

-or is another way around.

Aknowledgement Number is not valid untill you make payment of TDS.

Hence, Generate new Form 26QB and make payment.

There is link for the demand payment in case of filling of form 26QB.

https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp 

you have to file an appeal