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TDS on purchase of property 26QB

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195 Points Posted on 06 February 2023
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????
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On 06 February 2023 at 15:40 Report
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n/a
500 Points Posted on 06 February 2023

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.
 

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On 06 February 2023 at 17:46
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195 Points Posted on 06 February 2023
All the details filed by the deductor is correct but I think while updating details by the department there is some issues.
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On 06 February 2023 at 18:33
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Chartered Accountant
86505 Points Posted on 06 February 2023
There is some clerical error in feeding data while filing return.
814 Reply
On 06 February 2023 at 21:10
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Profession Business
28207 Points Posted on 07 February 2023
Clerical error are obvious.
44 Reply
On 07 February 2023 at 10:52
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Chartered Accountant
86505 Points Posted on 07 February 2023
Obvious but here it is guaranteed
814 Reply
On 07 February 2023 at 12:29
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195 Points Posted on 07 February 2023
@ 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
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On 07 February 2023 at 12:57
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Chartered Accountant
86505 Points Posted on 07 February 2023
Check the amount of TDS deducted
814 Reply
On 07 February 2023 at 22:08
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Chartered Accountant
86505 Points Posted on 10 February 2023
What all this rubbish on knowledge portal????
814 Reply
On 10 February 2023 at 10:26


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