Under construction property - intimation notice u/s 200a

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Jayashree

Software Engineer

113 Points Posted on 05 May 2016

Dear Experts,

Today I received intimation notice u/s 200a for late payment of TDS.

Kindly I need your help in responding to this notice.

I purchased a property and did aggreement on 20th March 2014. I did paid TDS on 26th June 2014 as 1% of agreeement value.

After approx. 2 years, today I received this 200A notice. I am serprised that as per notice I have to pay approx 18K as Late filing fees and interest on late filing fees.

While payding TDS I paid it in two stages 0.05% of agreement value for myself and 0.05% agreement value for my spouse.

We both got notice and combined penalty is approx 36K INR.

I am trying to understnad the logic of IT deptt. I have paid TDS on future payment which is kind of advanced TDS payment still I got this notice and charges too are so high.

Anyone decode the logic for me please?

Replies (3)

ankit gupta

CA IN PRACTICE

73 Points Posted on 08 May 2016

As per information provided by you, agreement was made on 20-3-14 and accordingly payment of sales consideration should have been made by you on 20-3-14 or an earlier date. However, you deposited tds on 26-6-14 after delay of more than two months. Liability of tds arises at the time of payment and demand of interest is due to delay in deposit of tds.

Jayashree

Software Engineer

113 Points Posted on 08 May 2016

Thanks Ankit,

But agreement amount is not paid at the time of registrations. How can I deduct tax before I make a payment

Regards

Somnath

Jayashree

Software Engineer

113 Points Posted on 12 May 2016

Originally posted by : ankit gupta
	As per information provided by you, agreement was made on 20-3-14 and accordingly payment of sales consideration should have been made by you on 20-3-14 or an earlier date. However, you deposited tds on 26-6-14 after delay of more than two months. Liability of tds arises at the time of payment and demand of interest is due to delay in deposit of tds.