TDS on sale of Immovable Property- Beware CPC TDS issuing intimation for late deposit of TDS
We all are aware that, TDS CPC has issued intimation u/s 200A of the Income Tax Act’1961 to many tax defaulters on daily basis, but the main thing to note here is that now they have started issuing it to the deductors u/s 194IA as well i.e the buyers of property who have paid TDS U/s 194IA late.
The CPC TDS is not only charging interest u/s 201 but also late fee u/s 234E of the Act.
Let us examine the relevant Sections of the Income Tax Act’1961.
(1) Any person, being a transferee, responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer of any immovable property (other than agricultural land), shall, at the time of credit of such sum to the account of the transferor or at the time of payment of such sum in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to one per cent of such sum as income-tax thereon.
(2) No deduction under sub-section (1) shall be made where the consideration for the transfer of an immovable property is less than fifty lakh rupees.
(3) The provisions of section 203A shall not apply to a person required to deduct tax in accordance with the provisions of this section.
Sec 194-IA deals with TDS on sale of immovable property. Under this section TDS is to be deducted @1% at the time of credit of such sum to the account of the transferor or at the time of payment of such sum whichever is earlier on sale of immovable property.
The transferor or the seller contemplated in this section should be a resident of India. Therefore, this section only deals with sale of property by residents and TDS @1% is to be deducted on such sale by resident seller provided the consideration for sale of property exceeds Rs. 50 lacs.
Tax will be deducted at the time of making payment of installment or the whole of purchase consideration as the case may be. If any advance payment is done for the purchase of property, tax should be deducted at the time of advance payment.
For example, if you are going to make payment of an installment of Rs. 10,00,000 on 25th March’2020, tax of Rs. 10,000 shall be deducted the same day ie. 25th March’2020 and you should pay the seller Rs. 9,90,000 (net of TDS).
Time limit for payment of Tax u/s 194IA to the Govt. Account
Tax deducted(TDS) from payments made to seller shall be deposited to the goverment treasury within 30 days from the end of the month of deduction.
For example: if Rs. 10,000 tax was deducted on 25th April 2020, same shall be deposited with the government account till 30th May 2020.
How to deposit tax:
Tax shall be deposited to the government treasury by filling a challan cum statement Form 26QB online, availble at TIN-NSDL website. Payment of TDS on purchase of property is to be made online by availing any one of the following options:
- online using your net banking account or
- by filling the Form 26QB and selecting the option e-tax payment on subsequent date. Now you should take the print out of the acknowledge slip, and visit any of the authorized banks for payment of TDS. Bank will make the e-payment of tax and provide you the challan of tax payment.
Facility for verification of status of TDS deposit is also available at online services of TIN-nsdl.
In case, at the time of filing of Form 26QB, any error or mistake is incurred then now you have a facility of online correction through TDS CPC (TRACES) website.
Ques: What if TDS is not paid to the Govt. account by the due date?
Ans: Section 201 of the Income Tax Act’1961:
Where any person, including the principal officer of a company,—
(a) who is required to deduct any sum in accordance with the provisions of this Act; or
(b) referred to in sub-section (1A) of section 192, being an employer,
does not deduct, or does not pay, or after so deducting fails to pay, the whole or any part of the tax, as required by or under this Act, then, such person, shall, without prejudice to any other consequences which he may incur, be deemed to be an assessee in default in respect of such tax:
[(1A) Without prejudice to the provisions of sub-section (1), if any such person, principal officer or company as is referred to in that sub-section does not deduct the whole or any part of the tax or after deducting fails to pay the tax as required by or under this Act, he or it shall be liable to pay simple interest,—
(i) at one per cent for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted; and
(ii) at one and one-half per cent for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid,
and such interest shall be paid before furnishing the statement in accordance with the provisions of sub-section (3) of section 200:]
Therefore from reading of the above section we can draw the following conclusions:
Interest u/s 201 is to be levied and the deductor is to be deemed as an assessee in default for failure to pay or for late payment of any TDS including TDS on immovable property.
Therefore,
a) If tax deducted is not paid by the 30th of next month of the month of deduction but is paid at a later date:
Interest at one and one-half per cent(1.5%) for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid.
b) If tax is not deducted at all:
Interest at one per cent for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted.
For example: If Rs. 10,000 tax was deducted on 25th April 2020, same shall be deposited with the government account till 30th May 2020. But if the same is paid say by 7th June then,
Interest will be calculated as follows:
Months of default: 3 (April to June)
Interest Rate: 1.5%*3=4.5%
Amount of Interest: Rs. 10,000*3*1.5%= Rs.450/-
Ques: Besides interest is there any penalty also for late payment of TDS u/s 194IA also?
Ans: As per Section 200(3) of the Income Tax Act’1961,
Any person deducting any sum on or after the 1st day of April, 2005 in accordance with the foregoing provisions of this Chapter (Chapter of TDS) or, as the case may be, any person being an employer referred to in sub-section (1A) of section 192 shall, after paying the tax deducted to the credit of the Central Government within the prescribed time, [prepare such statements for such period as may be prescribed] and deliver or cause to be delivered to the prescribed income-tax authority or the person authorised by such authority such statement in such form and verified in such manner and setting forth such particulars and within such time as may be prescribed:
Therefore, every person paying any tds has to furnish a statement in the prescribed form containing details of the tds deducted and paid.
The meaning of prescribed statement is given in Rule 31A of the Income Tax Rules’1962. Sub rule 4A of Rule 31A states as follows:
4A) Notwithstanding anything contained in sub-rule (1) or sub-rule (2) or sub-rule (3) or sub-rule (4), every person responsible for deduction of tax under section 194-IA shall furnish to the Director General of Income-tax (System) or the person authorised by the Director General of Income-tax (System) a challan-cum-statement in Form No. 26QB electronically in accordance with the procedures, formats and standards specified under sub-rule (5) within seven days from the end of the month in which the deduction is made.
Therefore, Rule 31A(4A), clearly prescribes that the Form 26QB by which Tds on immovable property is paid is not only a challan for the payment of tax but is also treated as a statement of tax deducted at source (i.e tds return in simple words).
Without prejudice to the provisions of the Act, where a person fails to deliver or cause to be delivered a statement within the time prescribed in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C, he shall be liable to pay, by way of fee, a sum of two hundred rupees for every day during which the failure continues.
(2) The amount of fee referred to in sub-section (1) shall not exceed the amount of tax deductible or collectible, as the case may be.
(3) The amount of fee referred to in sub-section (1) shall be paid before delivering or causing to be delivered a statement in accordance with sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C.
(4) The provisions of this section shall apply to a statement referred to in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C which is to be delivered or caused to be delivered for tax deducted at source or tax collected at source, as the case may be, on or after the 1st day of July, 2012.]
Therefore, as per section 234E, late fee of Rs. 200/-per day subject to the amount of tax is to be levied for late filing of any statement of tax deducted/collected at source.
Since form 26QB is treated as a statement prescribed u/s 200(3), therefore late filing of the same will attract late fee u/s 234E of Rs. 200/-per day.
Continuing with the above example, If Rs. 10,000 tax was deducted on 25th April 2020, same shall be deposited with the government account till 7th May 2020. But if the same is paid say by 7th June then, late fee will be calculated as follows:
No. of days from 30th May to 7th June’2020= 8 days
Late fee= 8*200= 1,600/- or Rs.10,000 (amount of tax) whichever is lower
= Rs. 1,600/-
Therefore, to avoid interest and late fee, pay your TDS on immovable property timely.
Hope you find the above information relevant and useful in your daily practice
(The author is a CA in practice at Delhi and can be contacted at: E-mail: [email protected], Mobile: +91-9953199493)
Read Other Articles of CA Pratik Anand
(Republished with Amendments by Team Taxguru)
RELATED POSTS ON THE TOPIC
Author Bio
Hi,
I bought a property for a consideration of 69,00,000/- (sixty nine lakhs) in Dec 2013. I paid the whole amount to the seller without deducting the TDS of 1% (i.e. 69,000/-). It has been more than 2 years now. Today, I have contacted the seller regarding the same, he said he shall check and get back to me.
Now I am aware there is a huge penalty for delay in payment of TDS. But does the penalty still apply if the TDS has not been deducted as in my case? (As the penalty applies only if the tax hasn’t been paid even after deduction) If yes, is there a different penalty for this or is it same at regular rate of 200 per day + 1.5% per month?
And in case the seller refuses to pay me the 69,000/- TDS, what can be a possible course of action for me?
– Do I pay the TDS money and the penalty myself?
– Is the seller liable to pay the TDS only, or TDS and penalty as well?
– Am I supposed to take a legal recourse?
Kindly suggest a solution.
Apply for certificate under section 197.
The article is a very good one. Why I am on this page is I also got a love letter from IT Computer Department yesterday, for a very old payment made in 2014. My self is a C A and now F C A after service and I wanted to find out what is that return for TDS which I was not aware was there, I know for salaries and contractors payments there are TDS returns, but not for this. Reading the article cleared my doubt, otherwise I have to search the Act, notifications and rules and forms.
As far as article is concerned it presented the things in a neat and clean manner as is available in the act and rules. Only few things like the amendment made in 2015, due to which now there is a doubt whether the 234 E Penalty/Interest for Late Filing of return for TDS is leviable or not, for the period before that amendment, etc have not been dealt with, may be mostly this would have been written long back, yeh it is in March 2015, and that amendment was subsequent to it. Some practical tips could have been included, so that plethora of requests on this would have come down. By and large it is a very good article.
P N Rao 9449059050.
It is better to pay for each installment paid to the builder, this way it may be more than 5 TDS payments proposed. By paying individually for each installment you may be able to reduce the outgo on account of Interest and Penalty.
P N Rao 9449059050
Whether the buider informed or not that TDS @1 % is to be deducted by buyer and pay it and return is to be filed by the buyer.
P N Rao FCA
Govt wants to catch who buys property, See the cleverness- if you buy a property of 51 lacs – govt collects actually 2 % ie ==> each 1 % from buyer & later from the seller. because the man who buys or sells will again do some thing , so Govt is having endless cycles, second they have a chance to harass you about the source of funds. See the fun- the builder -who bribes the MLA, councellor, removes mud from river, where ther is no bill, the bricks – again no bill, labour no bill / account, buy finally when the building is ready -state GOVT collects STAMP DUTY, center collects TDS from both parties, when you start living you pay to muncipality , with bribes — a great system. wheras you just occupy GOVT land build 3 or 4 flrs no body will question yoou if you pay small amount as Bribe instead of all these TDS etc. Even if the buillding is demolished in a few years it is worth, as you would have been in profit when you calculate the interest, TDS, stamp duty etc.
HI ALL,
we three person jointly buying a property through bank e-auction on Rs. 11273000. i was already paid 25% amount in bank,75% amount is balance. can i deduct 1% payment behalf of tds and how to deposit 1% when bank dont have PAN card. whose the responsible to deposit TDS between him.
Please let me know the effect of Clause 6(a), Chapter II of the Finance Act, 2015 with respect to Sec 194 IA.
Many thanks
I am an NRI and need your guidance with regard to TDS.
I purchased a flat for Rs 1.55 cr in June 2013 by paying a booking amount of Rs 750,000.00 on 19 June 2013. On 06 August 2013 I paid Rs 42,05,072 thereby making a total payment of 49,55,072 inclusive of booking amount. Remaining is yet to be paid in 2 more installments as construction is going on.
I saw articles from you on TDS for property and checked my builders demand letter.
It states that 1% TDS should be deducted
Can I pay TDS now along with interest and penalty ? I didnot deduct TDS and paid full amount to builder.
Am I liable to pay TDS and can I pay TDS now since it is over two years I made payment to builder.
How much interest and penalty is payable ?? Kindly let me know the exact amounts to be paid.
I am an NRI and need your guidance with regard to TDS.
I purchased a flat for Rs 1.55 cr in June 2013 by paying a booking amount of Rs 750,000.00 on 19 June 2013. On 06 August 2013 I paid Rs 42,05,072 thereby making a total payment of 49,55,072. Remaining is yet to be paid in installments as construction is going on.
I have seen articles from you on TDS for property and checked builders demand letter. It states that 1% TDS should be deducted
Can I pay TDS now along with interest and penalty ? I didnot deduct TDS and paid full amount to builder.
Am I liable to pay TDS and can I pay TDS now since it is over two years I made payment to builder.
How much interest and penalty is payable ??
(I have no income generated in India but have a PAN number for purpose of property purchase)
Request your guidance.
Regards
Mr V Swami,
Sir,Can you pls advise me the article in Tax guru where in it has been mentioned that deduction of TDS, if has not been made may have some argument justifying same if the property in question is a flat in a housing complex.Thanking you,Dr B N Panda…[email protected]
Hi Pratik,
I need your expertise on TDS penality calculation thatI have to pay.
I booked an under construction flat on December 12th, 2012 and have been repaying by installments. As I was not aware of TDS I hadn’t deducted any TDS till now. Even the builder did not inform me about this and they were accepting the full amount that I have been paying them.
I would like to know how to pay the TDS for all the payment that I have made till now? How much penalty would I need to pay? I tried to calculate my penalty using the examples you have given.. Is there a way to reduce the penalty?
Amount paid to Builder
dd/mm/yyyy Amt paid
——— ———
08/06/2013 338173
11/07/2013 338173
16/08/2013 338173
05/12/2013 338173
05/02/2014 338173
as per my calculation the penalty came out to Rs 38145.91(till oct 2015). Is this correct?
How can we ask the bulider to pay back the extra amount we have already payed them. Now only possession installment is left.
Waiting for your prompt response
Thanks
Hi Pratik,
I think I am in trouble..Need your expertise..
I booked an under construction apartment on December 12th, 2012 and have been repaying by installments. As I was not aware of TDS I hadn’t deducted any TDS till now. Even the builder did not inform me about this and they were accepting the full amount that I have been paying them.
I would like to know how to pay the TDS for all the payment that I have made till now? How much penalty would I need to pay? I tried to calculate my penalty using the examples you have given.. Is there a way to reduce the penalty?
Amount paid to Builder
dd/mm/yyyy Amt paid
——— ———
08/06/2013 338173
11/07/2013 338173
16/08/2013 338173
05/12/2013 338173
05/02/2014 338173
per my calculation the penalty is coming to Rs 38145.91(till oct 2015). Is this correct?
How can we ask the bulider to pay back the extra amount
Eagerly looking forward for your assistance. Thanks in advance.
Hi Pratik,
I think I am in trouble..Need your expertise..
I booked an under construction apartment on April 28th, 2014 and have been repaying by installments. As I was not aware of TDS I hadn’t deducted any TDS till now. Even the builder did not inform me about this and they were accepting the full amount that I have been paying them.
I would like to know how to pay the TDS for all the payment that I have made till now? How much penalty would I need to pay? I tried to calculate my penalty using the examples you have given.. Is there a way to reduce the penalty?
Amount paid to Builder
m/dd/yyyy Amt paid
——— ———
4/28/2014 300000
5/14/2014 788493
9/30/2014 1092386
3/30/2015 436170
5/28/2015 436174
per my calculation the penalty is coming to Rs 31806. Is this correct?
Eagerly looking forward for your assistance. Thanks in advance.
Hello Pratik,
As per your example explained above, I am taking out an excerpt below:
“For example: If Rs. 10,000 tax was deducted on 25th April 2014, same shall be deposited with the government account till 7th May 2014. But if the same is paid say by 7th June then, Interest will be calculated as follows: Months of default: 3 (April to June) Interest Rate: 1.5%*3=4.5% Amount of Interest: Rs. 10,000*3*1.5%= Rs.450/-”
Since, the tax could be paid till 7th May (7th of coming month) without interest, could you please help me understand why is there a default of 3 months?
Mr Pratik.
Very useful article. not touched the point – what to do in case buyer directly sells the property to another party. Ex: A sales to B for Rs 1.00CR, B makes part payment of say Rs 25 Lac, and now B sells it to C for Rs 1.2 Cr, and registry will be made by A to C.
I have purchased a property of RS92 laks,on 17.08.2015, sellers are co-owner, i forget to deduct TDS and paid amount by chq to both owner of 46 laks each, one seller have clear the chq, and other chq is not yet clear, registry of property is executed in my name and no TDS details have been made in the registry,
Now can i file TDS , and can i deduct TDS from 2nd seller of Property by replacing of Chq
If i have bought a property in october 2014 amount rs. 60 lacs. and i forgot to deduct TDS.
If i deduct TDS now. ( 13th august 2015)
what will be the Interest &
more importantly
how will be the late fees calculated on Late filing of TDS return.
please guide.
nirmal
9829092828
I am a joint buyer for the property. by mistake a i paid full TDS for the property from 1 account instead of equally deviding between both the buyers. Can you please tell me what should i do now to revert it back?
I am the seller. The buyer deducted the TDS and gave me the challan, but not form 16B. My auditor says he needs the form 16B, without which the refund is not possible. Current the buyer is not approachable, so please advise what can be done,
Based on builder’s request the bank disbursed 5 payments to the builder after 1-Jun-2013.
2 payments made in 2013
1 payment made in 2014
2 payments made in 2015 so far
As I was not aware of TDS rule which came out in 2013. I did not paid the TDS.
I need help on some questions:
1. Shall I pay one time TDS of the total sum disbursed to the builder? What FY year shall I select?
Or
Shall I pay TDS for all individual payments done in respective years starting 2013-14? So there will be 5 TDS payments, one for each payment made to the builder.
Or
Shall I combine amount disbursed for each year and submit 3 TDS payments? One for each year.
2. Is there any penalty I need to pay? If yes then will this be taken care at the time of submission of TDS online (tin-nsdl.com) automatically?
It seems like builder is not helping and not replying to my questions. I am worried about how will be pay the missed TDS payments, what will be the interest or late payment charges
Any information which can help me to simply the missing pieces and submit the TDS asap will be appreciated.
This video explains very well: https://www.youtube.com/watch?v=6YHraLdkvsc
Hi,
I have a question: What if buyer hasn’t deducted the TDS amount while making the payment at different occassions? The builder never mentioned that to the seller. So in that case, buyer still need to pay the penalty on the TDS amount owed?
This is too cumbersome, Why can’t they collect it during registration process itself to make common man life simple?
I don’t understand why 1% TDS Rule is made. Any way one who bought property worth >50L is already paying huge amount of Stamp Duty and Registration charges & other Taxes. Govt again wants additional 1% as TDS !!
Government is trying loot people. It must be protested and this rule must be withdrawn by Govt.
PL. PROVIDE THE FORM NO./ITNS TO FILE THE LATE FILLING FEE U/S 234E AND INTEREST U/S 200A TOWARDS TDS ON PROPERTY DEPOSITED BY US FOR 4-DAYS.
THANKS,
Iif I pay TDS now for an instalment that was paid in Oct 2013, what should be the financial year selectef in Form 26 QB. My builder says that he would only give me credit for the TDS paid if the FY selected is the current one or the previous one.
I am a NRI and bought a property in Hyderabad in 2012. Based on builder’s request the bank disbursed 5 payments to the builder after 1-Jun-2013.
2 payments made in 2013
1 payment made in 2014
2 payments made in 2015 so far
As I was not aware of TDS rule which came out in 2013 and my builder also did not informed me about the same, I did not paid the TDS.
Now I know the process of filling the TDS but I need help on some questions:
1. Shall I pay one time TDS of the total sum disbursed to the builder? What FY year shall I select?
Or
Shall I pay TDS for all individual payments done in respective years starting 2013-14? So there will be 5 TDS payments, one for each payment made to the builder.
Or
Shall I combine amount disbursed for each year and submit 3 TDS payments? One for each year.
2. Is there any penalty I need to pay? If yes then will this be taken care at the time of submission of TDS online (tin-nsdl.com) automatically?
It seems like builder is not helping and not replying to my questions. I am worried about how will be pay the missed TDS payments, what will be the interest or late payment charges and how will I ask the builder to take care of these payments and deduct from the future requests.
Any information which can help me to simply the missing pieces and submit the TDS asap will be appreciated.
Thanks
Hi All
I have also received a rectification notice to pay interest on late deduction (I am also confused what is the difference between interest on late payment and interest on late deduction).
Please guide do we need to pay this as well now? If yes, how?
Their contact center cant help saying they dont have much knowledge on the subject.
Ditto Sundeep…
ON inquiring @ their toll free no… I was asked to send a mail to [email protected] .. which I did.. giving all details of my initial demand payment and the new rectifed demand whihc was lower !!
HOwever, no response whatsoever from them.. despite sending reminders !! As u said Loss of time, money & energy for a common man !!!
After already paying the initial demand received against 26QB, now I have received the rectified demand for lesser amount. God knows how and when they will refund the access amount already paid by us and how they will settle this new rectified demand. Loss of time and money for ordinary people.
Should we use seperate Form 26QB for each payment of instalment to the builder, or can we use the same 26QB Ack No of the first instalment payment for all subsequent instalment payments?
Hello Everyone.
I need a answer to this. Like we have form 15G/15H for nil deduction of TDS for saving banks FDs etc. Is there any such provision for nil deduction of TDS on property in case seller has income less than taxable (and a senior citizen).
Please let me know as I have to buy a property from such a senior citizen how is a bit reluctant to get this TDS deducted.
Thanks
“Late Fee u/s. 234E” field on Bank of Baroda & Bank of India website is grayed out. Amount cannot be entered. What should be done ??? Any ideas ???
Hi, there is a confusion while paying thru this new link.
There is an option to pay Interest but not for late fees. Options are Interest, Penalty, Fees and Others. Should we pay Late fees under Fees, Penalty or Others?
A quick help would be appreciated
I ahve already paid the default amount ( late fee and interest fee) through Form 26QB, beforeactivation of the new link. What shouble be done now? ALthough I have have sent the mail at [email protected]
Manoj W,
You can still file an appeal. You can argue that as a layman you were unaware of the procedures to seek redress and nor that the TDS demand notice inform you that it can be appealed against. Slight delay can always be condoned. Filing an appeal is not that tedious. You just need to know where the Commissioner of Income Tax Appeals TDS is.
Just paid the Demand for Interest & Late filing Fee.
Use either of the following link
https://www.tin-nsdl.com/e-pay-furnish/e-payment.php
https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
Thot the recourse via appeal etc. was quite cumbersome and time consuming, no online method available.. The appeal process vide Form 35 is to be done personally and face to face ! And then again we are on the mercy of the whims of the IT officer ! Not worth the time & effort !
Also guys if you have decided to pay, please do it within tomorrow, as otherwise TDS CPS will be auto-issuing demands for simple interest for the delay on unpaid demands, post tomorrow ! So either pay up or file the cumbersome appeal within 30 days of the Demand, which also shud be over by now !!
Whats more annoying is that the Builder from whom I bought the Property is not heeding to any call for an ethical sharing of this damage, though we are supposed to be properly guided by them !!! Screwed from all ends !!!
AccheDin Truly !!!! 🙁
At last …we have to pay
As a revenge, i did not got refund of 11-12. Earlier i left it to fate Now i am going to file RTI for it
I Just want to pay this default on TDS for my 26QB however the link does not seem to work
onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp#sthash.0NaHYxzq.dpuf
The new link for Demand Payment is now active here:
onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
It seems inevitable now. However, as Karan mentioned, is it possible to appeal against this demand notice using Form 35? And what can be done after 30 days? I have exceeded the 30 days time frame too.
If the builder, to whom I am making an installment payment, charges me interest on late payment of installment, then is TDS deductible on the interest element as-well or only the installment amount? And if deductible on both what percentages will apply?
Hi,
I have received a notice for late payment of TDS u/s 200(A), I have to pay penalty and fine. Can you advise how to pay this online. 30days period for payment of these dues is getting over on April 30th, should I be using 26QB or is there any other form.
Thanks,
Shailesh..
I am a little surprised reading the article at
https://taxguru.in/income-tax/penalty-234e-fetches-revenue-whooping-rs-17497-crores.html#sthash.uU77O5wj.dpuf
I think the general consensus on this forum is that there is no means available to pay the interest and late fee for TDS pertaining to immovable property. If that is the case, are the assertions in the article correct? If the assertions are correct, there must be a mechanism to make the payment that the group doesn’t seem to be aware of. Would love to get some inputs here.
Second update:
Dear Sir/Ma’am,
Thank you for contacting us, it is our pleasure to assist you.
In reference to payment of demand related query against form 26QB, it is to inform you that a new link will be available at tin-nsdl.com for payments of Demand related to 26QB from 1st May, 2015. Therefore, you are requested to wait till that time.
The interest u/s 220(2) will not be applicable on such payments made till 02nd May, 2015
Note:”It is to be informed that facility for Grievance registration as an Effective Module Online Facility for Grievance handling is now available at TRACES site. All registered deductors are requested to please register their issues through TRACES portal after logging in to your account. Kindly note that this facility is available only to Registered users. You may navigate to Communication Tab (available at your login at TRACES) to locate “Request for resolution” and raise a Ticket for Resolution of your query/ Grievance. For more details on “Request for Resolution” please refer E Tutorial available on our website at below mentioned link: contents.tdscpc.gov.in/en/request-for-resolution.html”
Regards,
Team TDS CPC
I have received a notice for late payment I have to pay penalty and fine . can you advise how to pay this online. should I be using 26QB or is there any other form. How should the fine and interest specified in this form
I also called TIN call center. I new link will be vaiable to pay the fine in next month.
So will there be fine again?
https://taxguru.in/income-tax/penalty-234e-fetches-revenue-whooping-rs-17497-crores.html
This is looting the public in daylight !!! Truly Acche Din !!!!
I just called the TIN call center and they informed the new payment link will be available in next month.
What is the procedure to pay the fine? Only 4 days lefts.
I was considering to pay it via Challan 280 and 400. However Manoj w is saying he got reply from TRACES website that new link will be available.
Manoj share more information on it or should we go through 280/400.
This type of confusion was present at the type of payment of TDS itself. I congratulate ITD for making it consistent feature.
Thanks
Uday
Hello,
I have received a late payment intimation u/s 200A for the late payment of TDS for sale of property. Kindly guide me how do I pay this late fee online please?
What I understand is that we have to fill in Form 26QB which will ultimately generate challan 280? Please confirm.
Secondly, I have received separate intimations for 2 transactions? Does this mean I have to repeat the procedure twice?
Thirdly if I have to fill in 26QB, in the area of tax details should I mention tax as Re. 1 and then put in late payment in fees ?
Thanks