assessee has purchased a property from NRI of 6 cr & deducts a tds @ 23.92% I. e. Rs. 14352000. however Cpc calculates a tds of Rs. 15600000 & sends the assessee a short deduction notice of Rs. 12.48 lacs.
Assessee write a mail to tds cpc. where they replied that nature of remittance mentioned in statement is not covered under DTAA hence short deduction default has been raised. you are requested to pay the demand.
Is this reply correct?
we have deducted a tds as per income tax Act & not as per DTAA.
please reply
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TDS short deduction notice.
Replies (9)
U have deducted tax under which section?
Tds deducted us 195 @ 23.92%
Write a letter to the cpc with a copy to jurisdictional TDS officer, asking them to rectify this mistake.
We already wrote to tds cpc. Reply of cpc is attached
Unable to open this file
To TDS CPC, we have previously written. The cpc response is attached.
Since payment is above 5 crores, the surcharge that is applied may have been 25%. I think the difference is due to this reason only .
But sir in case of capital gain maximum surcharge is capped at 15%
You can write to them accordingly . If you apply 25% the amount comes to what they are seeking so the difference may be on this account
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