Me and my wife have bought a property recently and we have made two payments till now. As we both are owners of this property, we are paying the TDS in each payment from both of our end. While filing the TDS for the first payment of Rs. 2,24,000, we made some mistakes -
1) In both Form 26QB, by mistake, we entered the total booking price (amount including tax) at “Amount paid” field, which is Rs. 2,24,000.00. we should have considered the amount excluding tax which is Rs. 197754, so correct entry would have been (197754/2) = 98877 in each form 26QB.
2) In both form 26QB, by mistake, we entered Rs. 2240 as TDS paid. The correct TDS paid would have been (1977.54/2)= 988.77 in each form 26QB.
3) In both of the bank challan amount (which has been paid online), the challan amount which has been paid by mistake is Rs.1120. Correct payment would have been Rs. 988.77 each.
So, as you can see, there were some mistakes from our side in filing the TDS for the first payment. Therefore, while making the second payment to the seller and filing the TDS for that, we tried to rectify those mistakes by adjusting the "Amount paid", "TDS paid" and the bank challan amount.
But now, both form 16B of our second TDS payment, are showing wrong amount as TDS paid - me and my wife has paid online Rs. 1804 in bank challan on 28-12-2019. But the form 16B of me and my wife is showing the TDS paid as Rs. 683.60, it should show Rs. 1804 as TDS paid in each form 16B. Though challan number is matching with the number mentioned in form 16B, but challan amount is not matching. The challan amount is not matching with the amount mentioned as TDS paid in form 16B, though the challan number is matching. Challan amount is Rs. 1804 in both challans, but each form 16B is showing the TDS paid as Rs. 683.60.
Payment 1:
Booking amount |
224000 |
It includes: |
|
Price of flat |
110834 |
Car Park |
45000 |
FLC |
28820 |
PLC |
13100 |
Total Amount (Excluding Taxes) |
197754 |
in both Form 26QB, by mistake, I entered the total booking price (amount including tax) at “Amount paid” field, which is Rs. 2,24,000.00. I should have considered the amount excluding tax, so correct entry would have been (197754/2) = 98877.
While filling up Form 26QB for this payment, we both paid the TDS as follow:
Form 26QB of Me |
||
|
Incorrect Entry Made
|
Correct Entry would have been |
Amount paid which has been shown in form 26QB
|
224000 |
98877 |
TDS paid which has been shown in form 26QB
|
2240 |
988.77 |
Challan amount which has been paid online |
1120 |
|
Form 26QB of my wife |
||
|
Incorrect Entry Made
|
Correct Entry would have been |
Amount paid which has been shown in form 26QB
|
224000 |
98877 |
TDS paid which has been shown in form 26QB
|
2240 |
988.77 |
Challan amount which has been paid online |
1120 |
|
Amount Paid shown in my 26QB |
224000 |
Amount Paid shown in my wife's 26QB |
224000 |
Total of “Amount Paid” shown by mistake |
448000 |
Total of amount paid shown by mistake |
448000 |
Correct amount paid would have been |
197754 |
Excess amount shown as paid |
250246 |
TDS Paid by Me
|
1120 |
TDS Paid by my wife
|
1120 |
Total TDS paid |
2240 |
Total TDS paid by mistake is
|
2240 |
Correct TDS would have been |
1977.54 |
Excess TDS paid |
262.46 |
excess paid TDS by Me= 262.46/2 = 131.23
excess paid TDS by my wife= 262.46/2 = 131.23
Payment 2:
Remaining of Application amount = 433402
This amount consists of
Price of flat = 386966
Therefore, amount paid excluding taxes = 386966
As excess amount of Rs. 250246 has been shown before in Amount paid field of form 26QB of payment 1, so total amount paid to show in payment 2 now = 386966 - 250246 = 136720. Therefore, in both Form 26QB, I needed to enter the amount paid as (136720/2) = 68360.
Form 26QB of Me |
|
Amount paid to show due to error in 26QB of payment 1 |
68360 |
TDS to show in 26QB |
683.6 |
In case of no previous error, Amount paid in 26QB should have been |
193483 |
In case of no previous error, TDS would have been |
1934.83 |
To rectify excess TDS payment done before, TDS to pay now in challan = 1934.83 - 131.23 = 1803.6
Form 26QB of my wife |
|
Amount paid to show due to error in 26QB |
68360 |
TDS to show in 26QB |
683.6 |
In case of no previous error, Amount paid in 26QB should have been |
193483 |
In case of no previous error, TDS would have been |
1934.83 |
To rectify excess TDS payment done before, TDS to pay now in challan = 1934.83 - 131.23 = 1803.6.
Hence, me and my wife has paid online Rs. 1804 in bank challan on 28-12-2019. But the form 16B of me and my wife is showing the TDS paid as Rs. 683.60, it should show Rs. 1804 as TDS paid. The challan numbers are matching with the challan number mentioned in Form 16B, but the challan amount is not matching.
What to do now? Can somebody please help me with a proper advice? I called up TDSCPC customer care and they are telling me to opt for a TDS refund. But I have not paid any extra TDS and so I cant ask for any refund. The total amount I have paid as amount paid in form 26QB of payment 1 and payment 2 is Rs. 584720 and the total TDS I have paid till now is Rs. 5848 - so exactly 1% of the total amount paid. So, There is no meaning of asking for a TDS refund. I have already paid the exact 1% TDS of the total amount paid.
Here the actual problem is - both form 16B is showing wrong amount as TDS paid, they need to be rectified.
Can someone please help me?