Short Deduction Notice

Quick Summary
This discussion addresses short deduction notices received by buyers when a seller's PAN was not linked to Aadhaar at the time of a property transaction. Many users are facing similar issues, with the Income Tax department often stating the demand is correct due to the inoperative PAN on the transaction date. Solutions explored include correction requests, appeals, and contacting tax authorities, though many find the process complex and time-consuming. Recent updates suggest that the IT department has cancelled many such demands for transactions before March 31, 2024, provided the PAN is linked by May 31, 2024, though specific procedures for cancellation are still being clarified.

Change the dates and pay interest is better option. Is anyone trying this.

Change the dates and pay interest is better option. Is anyone trying this.

Change the dates and pay interest is better option. Is anyone trying this.

Has anyone payed the demand raised.

 

or any alternative solution.

 

bcz every month interest and penalties are increasing 

DEVARAPU SREENU how is that done? Will CA be able to help? What are the late charges and how is it calculated?

 

I visited an CA and, in the absence of a solution, I am pursuing the proper procedure to address the issue through an appeal.

It seems like you are dealing with a situation where TDS (Tax Deducted at Source) was deducted, but there's an issue with the linking of PAN with Aadhaar. Here are some steps you can consider:

  1. Check Status on TRACES:

    • Log in to the TRACES (TDS Reconciliation Analysis and Correction Enabling System) website to check the status of the correction request. TRACES is the platform through which correction statements are processed.
    • If you have already submitted a correction request, you should be able to track its status on the TRACES portal.
  2. Contact the Assessing Officer:

    • Reach out to the Assessing Officer (AO) who handles TDS matters for your jurisdiction. You can find the details of the AO on the Income Tax Department's website.

      For further more detailed information on this topic visit: Tax Deduction/Collection Account Number (TAN)

      To read more such trending content, visit Swipe Blogs.

Has anyone received any solution for this short deduction notice?

Has anyone got a resolution yet?

For the time being there is no solution. If anyone has gone for changes in TRACES site or something else, please share your experience.

Refer my reply on https://www.caclubindia.com/experts/conso-file-2914684.asp

All short deduction demands cancelled!!

Seriously it's a good news

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