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.  

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Prashant Thakur

The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.

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