One real estate company deducted income tax @ 10% on the proceeeds on redemption of NCDs by mistake as the tax liability is to be discharged by the beneficiary ( my self ) and the company showed in Form 28AS as interestr on securities and made TDS u/s 193.
I showed the income as SHORT TERM CAPITAL GAIN in ITR for AY 2017-18. I got a notice from CPC regarding variation in the income from other sources as computed from 26 AS and the income shoed in ITR . The deductor is not responding properly for this mistake and replied to me that since the income suffered tax correctly and no concealment of any income , CPC ,Bangalore may be informed accordingly.
Please advise me on how to handle this issue , though I replied tem stating that there is no concealment of any taxable income .
I have not got any reply and this is more tha 8 months old issue
CAclubindia
