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TDS on purchase of property 26QB
Hello can anyone help that one of my client purchase a property and he DEDUCTED tds on it as per new provision w.e.f. from April 2022 that if SDV of property is more than the sale consideration then tds is to be DEDUCTED on SDV. So he DEDUCTED tds on SDV and deposited the same but in Form 16A tds is reflecting at the rate of sale consideration not actual tds deposited. Can anyone tell me why this happened????
Replies (8)
Quick Summary
It is possible that there was an error in the TDS calculation or reporting by the deductor. It could also be an issue with the TDS return filed by the deductor with the tax authorities, or a problem with the TDS reconciliation process.
All the details filed by the deductor is correct but I think while updating details by the department there is some issues.
There is some clerical error in feeding data while filing return.
Clerical error are obvious.
Obvious but here it is guaranteed
@ RashmiJi As I checked the data there I found that value of property is less than SDV so TDS is calculated on SDV and amount paid to seller is actual sale consideration and TDS amount filed there is based on SDV. Is there any error and if yes how to make correction? Suggest
Check the amount of TDS deducted
What all this rubbish on knowledge portal????
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