Buyer of property deducted tds @ 1% from sale value of property in 2012-13, when TDS on property transactions was just introduced and procedures were not clear. The TDS deducted did not appear in AS26 of the seller and on enquiry it was found that deducted amount was deposited by the buyer in challan showing as self assessment tax for a.y 2013-14 and hence the seller did not get any credit for the same. The effect is that deducted amount did not get deposited as TDS on behalf of seller.
Now what is the remedy to seller, as buyer is not refunding the amount and CPC Bangaluru has raised a demand notice on seller.? The seller has approached his ITO with all documents, who has referred it to ITO on whose jurisdiction the buyer comes, but no action has been taken by him to recover the amount from buyer. Seller has also informed CIT-TDS apprising him that buyer has not deposited TDS amount deducted and requesting him to recover the amount fom the buyer, but he has simply forwarded the complaint to ITO of seller's jurisdiction and not initiated any recovery proceedings against the buyer of property, who comes under his jurisdiction as deductor.
Can some one suggest which authority to approach so that action u/s 276B can be initiated against the buyer to recover the amount?
CAclubindia
