Tds on sale of property as per 26qb

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 October 2016 Hi,
I had purchased property with the agreement value of Rs 50 lacs, but I forgot to deduct TDS while making payment to the seller. Now I have received the follow-up notice from the department. I need to know what are the ways where I can reply to the department for giving relaxation of penalty. I am ready to pay interest for Non deduction of TDS from the applicable date.

Thanks

13 October 2016 The only way is to talk to the assessing officer,because interest as well as penalty shall be levied.

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 October 2016 I have already paid full sale consideration to the seller. What if the seller has declared the same in his return in that AY. Thanks for your reply.




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