TDS

TDS Statement U/s 194-IA Now Rectifiable !

Posted on by Prashant Thakur

Filing of TDS statement is extra burden for buyer of property because whenever you buy property above RS 50 Lakhs , you are responsible for deduction of tax at source under Section 194IA   of the Income Tax Act and filing Form  26QB that  is  an online   statement-cum-Callahan . As on today , if any error crepts in filling  details  of buyer,  seller,  property  being sold,   sale  consideration,    tax deposit  details   etc. , there were no facility for correction of the error . Now,  CPC-TDS  has enabled   functionality    for online correction  in form 26QB  from 29/02/2016.  

Now  the buyer, whose PAN exists in Form 2608, can log in to www.tdscpc.gov.in and make the correction request for the following fields.

  • Buyers & Sellers PAN
  • Buyers and Sellers Address
  • Property Details
  • Date of Payment etc
  • Date of Deduction of tax

Detailed Circular on Correction

[gview file=”https://dl.dropboxusercontent.com/spa/rfpreufrritz7b1/cpc-tds-enables-online-functionality-for-correction-in-form-26qb.pdf” save=”1″]

 

Prashant Thakur

The author has spent more than 30 years in the field of taxation. Wrote four books -3 on on Indian Tax Law and 1 on US tax law for cryptocurrency. Apart from https:taxworry.com , he also writes on https://irstaxapp.com which is for US tax laws. He is a tech enthusiast and manages a cloud computing company that publishes innovative software.

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