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Default u/s 194ia
One person has purchased a immovable property valued Rs. 60 lakhs in financial Year 2013-14 and has not deducted TDS. Seller has already furnished return after paying Income tax liability. Recently he has received a notice regarding default u/s 194IA. Plz suggest
Replies (4)
buyer has to pay the default amt and seller will apply for refund request to claim such tds deducted on his name.
plz confirm that the TDS payment has been made in Challan 26QB. Challan 281 will not be accepted in the above case.
Seller has already filed belated return after paying tax. He canoot filed revised return to cliam refund.
but seller can file rectification request u/s 154 after tds credit is available on his pan when the buyers pays such tds.
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