Dear Experts,
Today I received intimation notice u/s 200a for late payment of TDS.
Kindly I need your help in responding to this notice.
I purchased a property and did aggreement on 20th March 2014. I did paid TDS on 26th June 2014 as 1% of agreeement value.
After approx. 2 years, today I received this 200A notice. I am serprised that as per notice I have to pay approx 18K as Late filing fees and interest on late filing fees.
While payding TDS I paid it in two stages 0.05% of agreement value for myself and 0.05% agreement value for my spouse.
We both got notice and combined penalty is approx 36K INR.
I am trying to understnad the logic of IT deptt. I have paid TDS on future payment which is kind of advanced TDS payment still I got this notice and charges too are so high.
Anyone decode the logic for me please?
CAclubindia
