Respected Sir, My request to you is as follows. My client purchased the property in August 2024 and paid 1% TDS on the property as per 26QB as the amount is more than 50 lacs. Now the client has received notice that 20% TDS has to be paid as Aadhaar is not linked with seller PAN number.
Now Seller PAN is linked
My humble request you what should I do next
Menu
TDS - 26QB
Replies (2)
Quick Summary
I understand your concern. Since the seller's PAN is now linked with their Aadhaar, you can file a revised TDS return and claim a refund for the excess TDS paid (20% - 1% = 19%). Here are the steps to follow: 1. File a revised TDS return (Form 26QB) with the correct TDS rate (1%) and the updated seller's PAN details. 2. Pay the difference between the original TDS paid (20%) and the correct TDS amount (1%) if any. 3. Claim a refund for the excess TDS paid (19%) by filing a refund request (Form 26B). 4. Keep a record of the communication with the seller, the revised TDS return, and the refund request for future reference.
My apologies and requests.
1. My client has paid 1% TDS under TDS 26QB method on purchase of property in Aug-2024.
Already 1% TDS paid Date 10.08.2024.
2. After that TDS 20% notice came, after linking this seller Aadhaar - PAN.
1. My client has paid 1% TDS under TDS 26QB method on purchase of property in Aug-2024.
Already 1% TDS paid Date 10.08.2024.
2. After that TDS 20% notice came, after linking this seller Aadhaar - PAN.
Recent Topics :
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
Related Topics :
CAclubindia
