Kushal Agarwal (A) (34 Points)
29 August 2013URGENT IMMEDIATE ATTENTION REQUIRED:
My company has purchased an immovable property at Rs.1.2 Cr. on Aug'13.
Under the new ruling we were liable to deduct 1% TDS to our seller (Rs.1.2 Lakh).
We filled up the forms online, with all the figures correctly.
But at the time of payment in the online gateway, due to a clerical error we deposited Rs.12 Lakh instead of Rs.1.2 Lakh i.e., an excess of Rs.10.8 Lakh.
Bank has refused for reversal, and now we came to know about form 26B.
Please HELP?
chandan
(Asst. Manager)
(37 Points)
Replied 29 August 2013
Dear you can adjust excess amount paid with next month due in same section, otherwise have to follow refund procedure.
Kushal Agarwal
(A)
(34 Points)
Replied 30 August 2013
Mihir
(Wealth Manager)
(5293 Points)
Replied 30 August 2013
This is a serious mistake. Since this section is new, a lot of procedures related to the same is still unclear. You will have to meet your AO and ask him about this problem. The AO cannot rectify the entry unless IT returns is filed.
Kushal Agarwal
(A)
(34 Points)
Replied 30 August 2013
pankaj
(account excutive)
(30 Points)
Replied 30 August 2013
i am pursuing PGDM (finance) form symbiosis distance learning center i want to take MAT entrance take
then do MBA in finance but problem is i graduate(B.COM) also correspondence mode Can i applicable for mat if i take good rank in mat feb 2014 collage give preference me ya PGDM good for me
regards
pankaj kumar sharma
student
CAclubindia
