My Client Purchases A residential house in lucknow amount of Purchase above 1.5 Crore . But He was paid full payment of Price of house and he did not deduct 1% TDS of Payment. and TDS did not Deposit by Purchaser. it have six months passes of above transaction . My question is that now what can i do ?
Sir, Please solve urgent basis this query. I am Waiting for response...
07 September 2016
Dear Ashish,
you need to deduct tds @1% but since you had not deducted then it's a breach of section 194IA.
either talk to the seller for payment of TDS or else u have to deposit it from your own pocket.
currently only interest will be levied but if it gets more delay penalty will also be levied.
So make the Tds payment as soon as possible
Hope your query is resolved
Kindly like if my response has helped you
CAclubindia
