I filed a 26qb form with challan. My total value of Consideration (Property Value ) was 59 lac, so I paid TDS on 59 lac i.e. 59000. But Total amount paid or credited was 57 lac. But in 26As of buyer shown 57000 instead of 59000. Why is it, although we paid challan of Rs. 59000.
9 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 06 December 2022
Generally it will not happen like this .
Check the amount debited from bank account.
Might be technical error.
You may contact the IT dept once
Check the amount debited from bank account.
Might be technical error.
You may contact the IT dept once
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 08 December 2022
You have mentioned Total amount paid or credited as 57 lakhs. TDS will be calculated on this amount. So no error from IT Dept per se. You should have mentioned 59 lakhs in amount paid or credited.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 08 December 2022
If Challan is paid for 59000/- then it can't display 57000/- in 26AS of buyer .
You file the correction statement based on the 59lacs sale consideration
You file the correction statement based on the 59lacs sale consideration
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 08 December 2022
It can display only 57000 to the seller because the form 26QB was filed for that amount. Challan amount on the higher side has no relevance. Also, the differential amount of 2000 would be reflecting in 26AS of buyer
Using more precise terminology for ease when it comes to buyer ( buyer of property ) and seller ( seller of property )
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 08 December 2022
But the challan and tds return is same for 26QB
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 08 December 2022
Queriest mentioned 57000 in the form but paid 59000. I agree it is a challan cum return but on the bank website one needs to mention the amount manually
ABHIJIT MANNA
(ACCOUNTANT)
(447 Points)
Replied 09 December 2022
Thank you for all, but I did not get solution or what to do. I paid challan of Rs. 59000 because now a days actual amount paid or market value whichever is higher, has to be paid, That's why I paid 59000 because market value was 59 lac but actual amount paid or credited of Rs. 57 lac. why I put 59 lacs in paid or credited because I actual paid Rs. 57 lac. But I can not understand why reflected 57000 in seller 26AS.
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 09 December 2022
Online correction needs to be done. Also,it would require seller approval. Please contact on raj @ rcdco.in to get the same done.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 10 December 2022
@ Abjit Manna,
You may file 26QB correction statement to rectify the issue.
Else contact professionals like CAs as said by above member
You may file 26QB correction statement to rectify the issue.
Else contact professionals like CAs as said by above member
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