Ms. Narang you have explained the complicated topic with so simplicity that a lay person like me was able to understand it so very well. Thank you so much. Please keep up the good work.
Very impressive, I was able to sort out my short deduction default issue. Indeed you are helping many people how don't have CA access to solve their small tax related issues. Thank you🙏
Very well explained the entire process. I was looking for it since long. What corrections can be made in 26QB form? Can we change seller PAN and enter new PAN of seller?
Thanks for such concise and informative video madam.. I want to ask if seller or AO is taking time to approve, then the penalty will further add up due to delay in correction…and what if correction request rejected by AO or IT Department, then the time in between submission and rejection will be counted as default and more penalties will be imposed or not?
Mam, where to enter the short deduction value in the form. In your case, you showed the interest and put it in respective field. But I have short deduction. Where to put this value. Thanks in advance.
Very nice and informative video :) One query: What is 'date of deduction'? Let me clarify my question: Lets say property's cost is 1 cr and I am paying it in 10 installments (of Rs 10 Lak each). Now out of this 10 lakh, Rs 10,000 is the TDS (1% of Rs 10 lakh). Lets say I paid Rs 9,90,000 on 14/11/2023 (Date of Payment) and I am filing for TDS u/s 26 QB on 12/12/2023 (and paid Rs 10,000 on same date). So in this case what should be the 'date of deduction'? Is it 14/11/2023 or 12/12/2023. Please answer !!
Madam. We had a short deduction issue and the same is paid now. Do we have to submit correction statement for the short payment of tax or would the seller automatically get the credit for the short deducted amount. please clarify.
Very good information... Mam, in my case i paid tax late by one year but date of deduction also i mentioned a year old. Now seller not able to get credit of it. Can i change date of dedution to today
Hi Mam this is an good video, I am trying to do correction in 26QB from but I am getting below error No challan has been deposited yet for the 26QB can you please help me to resolve above issue.
Thank you Mam for making this complex process so easy to understand. In the @13:00 of the video, you mentioned the communication reference number. In the intimation letter that I received (regarding default in 26QB) , it did not have any attachment. Is there any way to find this? I am afraid that if I make the payment without the reference number, it may not be successful. Please help !
Hello Mam, I have made the demand payment from the Income tax portal and not from NSDL..Would that be fine..?? And also will I receive any communication from IT department for the clearance of my penalty..? Kindly guide me regarding the same..
Maam, thank you for the video. I have made a mistake with respect to date of payment and deduction. I selected my initial booking date thats in dec 2020. I have now received a notice to pay interest for 3 years. How do i correct this. The construction is still going on and this is mostly the last payment i ll be making.
Hi Ma'am, I have doubt . When 26QB initially filed there are 2 mistakes. 1) Date of Deduction 2) Payment of int (actually we need to pay interest initially but we haven't paid that, we paid only TDS amount) . now in 26QB i know we can correct Date of deduction but how to deal with this interest . where to pay that interest and how to updated that payment in return? ....... please reply....
In case of 2 buyer (husband & wife) x 1 Seller hai.. but only 1 buyer (husband) pay whole TDS amount.. in that case how many 26QB form need to be filled?
Ma'am,. I have deposited TDS on purchase of property from Income Tax site through E Pay but I have received demand under 200A. I went through your guidance to view the jurisdiction report but after putting the request number I am unable to view the report. Please suggest further. Thanks
Hi mam, Nice video.. Just one question how tds is applied in case of 3 seller(mother,father and son) and if 2 seller(mother and father) is in india and son has moved abroad for work and has pan card in india. Father has GPA on behalf of son. All transactions will happen to fathers account.
Thanks for detailed video mam...I got notice for 27Q with short deduction even if I deducted tax at rate of 22% for NRI property owner....what shall I do?
TDS correction main end main seller ke aprove Karne ke baad form ka print leke sign karke district officer ka aproval Lena hota hai kya? Aisa message Aya tha end main jab maine process kiya.
Hello Mam, I have filled challan against Demand on TDS but the challan status is showing as UNCLAIMED and not adjusted against demand.. Can we consult you on this case.. pls send me your no ?
I have deducted TDS 1% but got notice 200A payment date 15 jan and on 25 jan i received a default notice and got to know seller wife pan and adar not linked because she do not have taxable income. If today he linked the adar and pan and after that if I pay the TDS do i need to pay 20% amount or 1% amount with interest for late payment ?
Hi Voxcov Academy, I have some doubts regarding payment of the penalty. So in my case I have received demand in which I can see amount they have charged in two sections. First is for Interest on Late Payment and second is Late Filing Levy. So how should I pay this amount under Demand Payment for TDS on property (Sale on Property). Do I need sum the amount of 2(a) + 4(a) = Net Payable and add Net Payable to Interest @ 13:04 on demand payment screen? Also in my case Interest is not auto populating even after adding reference number as shown in the video @13:04. Please help me with this concern asap. Thanks.
Hi I have a query. I have purchased a property but while paying the TDS the seller PAN and Aadhar was not linked, and now I received the defaulted receipt from tax department. Is following the same steps of correction work after my seller links his pan and aadhar?
wHEN THE DEFAULT IS CORRECTED AND I GET A MAIL THAT NO DEFAULT IS NOTICED, DOES THE 200a NOTICE ISSUED EARLIER GET CANCELLED? aNY ACTION IS REQUIRED BY THE TAX PAYER>
Great Video. Thanks! Intersting Query Buyer deducted & deposited 1% TDS, however short deduction default u/s 200A of 19% TDS as seller's PAN was not linked with Aadhaar and it was not disclosed by Seller. Seller got his PAN linked with Aadhaar after the TDS was deducted. How to get this short deduction default u/s 154 of 19% TDS rectified as correction also didn't resolve the issue. How to get this resolved?
Ma'am, after payment of penalty for defaults u/s 200A can I download the TDS certificate (form 16B) immediately or wait for ITD email for the successful process ? Thanks in advance
Ma'am I just filled it. I put interest inside interest section and total levy inside 234 section. Is that correct? I have one more doubt like is intimation reference number same as correction reference number? Now we receive as correction reference number
I have got 2 different communication reference number against same acknowledgement. One was for original and now I made some details correction and again got new intimation reference with same amount on same acknowledgement number
'The latest statement filed for the specified search criteria is not processed, please check later' ------ Ma'am yeh likh k aa rha. Jb bhi justification or default p check kr rhe. Please guide me. Thank u
Mam, Correction Statement for Acknowledgement Number AXXXXXXXXXX is processed without defaults u/s 154 mail received after approval by seller does it mean its corrected correctly and can Ignore the notice of penalty payment please guide.
Hello Mam Thank for for the detailed information. I need some more guidance. I made the payment to seller on 14th April and submitted the TDS a week later on 22nd April. On 25th April i got this default notification and they are asking for 1% interest on the full tds amount. So i need to know as per rules within how much time should the tds be submitted after making payment to seller? Is the demand of 1% interest on TDS amount justified for 1 week delay?
Thanks for your response. So does it mean we should submit tds on the same day of the payment to seller? Somewhere i had read that we can submit tds within 30days of payment to the seller
Hi @voxcovacademy6945 ma'am, I have one query regarding the same where I have submitted form 26QB correction where I changed Date of Payment and Date of Tax Deducted, however Sellers PAN approval I received and now it is showing current status as Pending for AO approval. I have a query If this AO person will approve it online, would that be done and completed the process or post online approval from AO, I have to submit some documents as proof to AO office physically? Please help me as early as possible, its really urgent ma'am. Thanks
Mam mujhe mail aya hai "Regular Statement for acknowledgment number is processed without default u/s 200A" iska matlab mujhe TDS pay karne ki zarurat nahi hai na
If i have raise a request 26 QB using DSC for Date of Payment and Date of deduction correction does it require AO approval . if not the how it will flow like like after PAN of seller approval where its goes ? bcoz earlier as i have raise a request , which by pan seller approval it goes to AO approval and rejected though i have submitted all necessary doc. to AO income dept.
Madam, maine Tds Return 26QB correction ( Mistake in FY ) change karke (Seller ki details pata hai)submit kardi hai lekin Pending for PAN Approval kon karega aur kaise aur kahase karega uski koi jankari muje pata nahi hai to please aap kuch guide kijiye.
Hi, thank you for the explanation. For option 2 when I click on the demand payment on income tax portal e-pay "Demand payment for TDS for property purchase 26QB" is not there. Instead "Demand payment as Regular Assessment Tax (400)" is present. I am assuming the govt. has updated the website. Can you please help me with the latest approach for demand payment
Mam i had got demand and i payed it TDS26QB but after paying do i need to do something else because in traces it is showing the payment i maid earlier as fully consumed and the demand i payed is shown as partially consumed is their anything i need to do?
Ms. Narang you have explained the complicated topic with so simplicity that a lay person like me was able to understand it so very well. Thank you so much. Please keep up the good work.
Thank you soo much
Very impressive, I was able to sort out my short deduction default issue. Indeed you are helping many people how don't have CA access to solve their small tax related issues. Thank you🙏
Welcome
Thanks mam
simple process but very hard to to find how to do this. you video made stuff easy thanks again
Welcome
Ma'am, you have really very nicely explained the whole process. Thank you very much.🙏
Welcome
Very well explained the entire process. I was looking for it since long. What corrections can be made in 26QB form? Can we change seller PAN and enter new PAN of seller?
Thank you so much.
You made the subject so easy....
Very well explained in simple language..
Thankyou
Thanks for such concise and informative video madam..
I want to ask if seller or AO is taking time to approve, then the penalty will further add up due to delay in correction…and what if correction request rejected by AO or IT Department, then the time in between submission and rejection will be counted as default and more penalties will be imposed or not?
mam you are best teacher
Thankyou soo much
Thank you for such a detailed video, after paying the challan we will receive a intimation that defualt is paid?
Very well explained. Thanks for this ma'am
Welcome
Mam, where to enter the short deduction value in the form. In your case, you showed the interest and put it in respective field. But I have short deduction. Where to put this value. Thanks in advance.
Thank you Ma'am. I had been searching this for long. You made it so easy. Thank you so much.
THANKS FOR MAKING SUCH A COMPREHENSIVE VIDEO ON THIS MATTER.
Welcome
Thanks for proper and correct procedure explanation.
Thanks
Very comprehensive. And very helpful
Thanks
Thank you for this video.very well explained, was confused whether to correct form or do payment.
Welcome
Really nice video..which helped me a lot.
Thank you for this detailed video, i was confused between intimation number and communication number, your video clarified it. Thank you!!
Welcome
This has been awesome...was looking for the same guided approach..Thanks
Welcome
Simply excellent. Pls keep on adding videos like this
Thanks sure
Very nice and informative video :)
One query: What is 'date of deduction'?
Let me clarify my question: Lets say property's cost is 1 cr and I am paying it in 10 installments (of Rs 10 Lak each). Now out of this 10 lakh, Rs 10,000 is the TDS (1% of Rs 10 lakh). Lets say I paid Rs 9,90,000 on 14/11/2023 (Date of Payment) and I am filing for TDS u/s 26 QB on 12/12/2023 (and paid Rs 10,000 on same date). So in this case what should be the 'date of deduction'? Is it 14/11/2023 or 12/12/2023.
Please answer !!
12/12/2023
Thank you Very much, Your guidance was very helpful.
Welcome
Madam. We had a short deduction issue and the same is paid now. Do we have to submit correction statement for the short payment of tax or would the seller automatically get the credit for the short deducted amount. please clarify.
Excellent Madam. Very easy elaboration. Stay blessed 🙌
Thanks
Thank you madam. you save my time.
Welcome
After going to e pay tax the option is demand payment as regular assessment tax can you guide
Thanks for the information mam it was very helpful, saved my time n money for filing the demand payment on tds
Welcome
Very good information... Mam, in my case i paid tax late by one year but date of deduction also i mentioned a year old. Now seller not able to get credit of it. Can i change date of dedution to today
TDS on property done, property registered after few days it is notice that translation filed what is the remedy. pl explain
Hi Mam this is an good video, I am trying to do correction in 26QB from but I am getting below error
No challan has been deposited yet for the 26QB
can you please help me to resolve above issue.
Thank You for such detailed Explanation.
Really appreciate it !!
Thankss
Thanks for discussing on such an interesting topic .
Hoping from you ,some new knowledgeable topics for your viewers in future also.
Definately we will be coming up with latest updates
very good explanation
Thanks
Good & informative
Thanks
Thank you for the guidance.
Welcome
Thank you Mam for making this complex process so easy to understand. In the @13:00 of the video, you mentioned the communication reference number. In the intimation letter that I received (regarding default in 26QB) , it did not have any attachment. Is there any way to find this? I am afraid that if I make the payment without the reference number, it may not be successful. Please help !
Did you get it? I have the same question. Please reply
Me too. Please let me know where can I get intimation/ communication reference number
great well explained
Thanks
Perfect . Thank you so much for such clear Explanation.
Welcome
Hello Mam, I have made the demand payment from the Income tax portal and not from NSDL..Would that be fine..?? And also will I receive any communication from IT department for the clearance of my penalty..? Kindly guide me regarding the same..
Maam, thank you for the video. I have made a mistake with respect to date of payment and deduction. I selected my initial booking date thats in dec 2020. I have now received a notice to pay interest for 3 years. How do i correct this. The construction is still going on and this is mostly the last payment i ll be making.
I have received same notice.. How did you fix this? For me 6 month payment is coming more than 35000
Thank so much. very good. detail explanation. Really appreciate.....keep it up.
Thanku soo much
Good information thank you mam
Welcoem
very nice and helpful video. great job
Thanks
Hi Ma'am, I have doubt . When 26QB initially filed there are 2 mistakes. 1) Date of Deduction 2) Payment of int (actually we need to pay interest initially but we haven't paid that, we paid only TDS amount) . now in 26QB i know we can correct Date of deduction but how to deal with this interest . where to pay that interest and how to updated that payment in return? ....... please reply....
On income tax website login and go to epay tax...there is an option of demand payment for TDS on Property..from there you have to pay interest
@@voxcovacademy6945thankyou so much .
Very well explained. Thank you
Welcome
Nice explanation, thx mam
Welcome
Superb explanation mam. Do we have to provide demand Challan to seller or anything else to seller apart from form 16b
Does multiple buyers of same property have to pay the amount for 200A notice if they receive the demand
In case of 2 buyer (husband & wife) x 1 Seller hai.. but only 1 buyer (husband) pay whole TDS amount.. in that case how many 26QB form need to be filled?
Ma'am,. I have deposited TDS on purchase of property from Income Tax site through E Pay but I have received demand under 200A. I went through your guidance to view the jurisdiction report but after putting the request number I am unable to view the report. Please suggest further.
Thanks
Thank you for detailed video.👍
Welcome
How much time AO takes to approve corrected 26qb ?
Is there a way to request for appealing to cancel late fine
I am not getting the Intemation reference number from my justification report . Can you please help ?
Very well explained. Thanks!!
Welcome
Hi mam, Nice video.. Just one question how tds is applied in case of 3 seller(mother,father and son) and if 2 seller(mother and father) is in india and son has moved abroad for work and has pan card in india. Father has GPA on behalf of son. All transactions will happen to fathers account.
Pls discuss on call
Thanks for detailed video mam...I got notice for 27Q with short deduction even if I deducted tax at rate of 22% for NRI property owner....what shall I do?
Hello what was the amount of transaction please share if u could...
After demand payment for tds on acquisition of immovable property correction in traces site and then outstanding demand after show nil?
Can we know how a seller can approve the 26 qb correction if correction through seller pan is opted?
interest with late filing levy also charged how to pay?
Thanks for detailed explanation.
what will be the next action if we select AO instead of seller PAN?
did u get the answer of this question? If yes then please update me too? I just made the correction in mine.
TDS correction main end main seller ke aprove Karne ke baad form ka print leke sign karke district officer ka aproval Lena hota hai kya? Aisa message Aya tha end main jab maine process kiya.
Thanks for informative video
Welcome
Great explanation! Thank you so much ! 🙂
Mam, if i change date of payment according to the demand
Then demand will clear?
Well explained ma’am
Thanku
Thank you Mam! It helped!
Welcome
Hello Mam, I have filled challan against Demand on TDS but the challan status is showing as UNCLAIMED and not adjusted against demand.. Can we consult you on this case.. pls send me your no ?
I have deducted TDS 1% but got notice 200A payment date 15 jan and on 25 jan i received a default notice and got to know seller wife pan and adar not linked because she do not have taxable income. If today he linked the adar and pan and after that if I pay the TDS do i need to pay 20% amount or 1% amount with interest for late payment ?
There is no acknowledgement number given in my Email. what to do?
What will be nature of payment for default
Hi Voxcov Academy, I have some doubts regarding payment of the penalty. So in my case I have received demand in which I can see amount they have charged in two sections. First is for Interest on Late Payment and second is Late Filing Levy. So how should I pay this amount under Demand Payment for TDS on property (Sale on Property). Do I need sum the amount of 2(a) + 4(a) = Net Payable and add Net Payable to Interest @ 13:04 on demand payment screen? Also in my case Interest is not auto populating even after adding reference number as shown in the video @13:04. Please help me with this concern asap. Thanks.
Discuss case over call
Hi Bharat, I also fall into same case. Please let me know how you paid the demand
Hi
I have a query. I have purchased a property but while paying the TDS the seller PAN and Aadhar was not linked, and now I received the defaulted receipt from tax department. Is following the same steps of correction work after my seller links his pan and aadhar?
Hi ,Did you get any resolution. Pls let us know
Yes
Thank You So much.!! Very well explain
Welcome
Thank you mam for valuable information
wHEN THE DEFAULT IS CORRECTED AND I GET A MAIL THAT NO DEFAULT IS NOTICED, DOES THE 200a NOTICE ISSUED EARLIER GET CANCELLED? aNY ACTION IS REQUIRED BY THE TAX PAYER>
This really helped me
Medam I had pay 26qb six month late so, default has been generated so, i have to pay interest and penalty in challan no 280 or in 26qb ???
In 26qb
Great Video. Thanks!
Intersting Query
Buyer deducted & deposited 1% TDS, however short deduction default u/s 200A of 19% TDS as seller's PAN was not linked with Aadhaar and it was not disclosed by Seller. Seller got his PAN linked with Aadhaar after the TDS was deducted. How to get this short deduction default u/s 154 of 19% TDS rectified as correction also didn't resolve the issue. How to get this resolved?
In my case I got notice even after linking pan and Aadhar, do you have any idea how to rectify it
@puneetarora9742 can you please let me know if your issue is resolved??
I have the same query as of yours please help me out if its resolved.
@@sagaragarwal4816 No resolution
@@puneetarora9742 so u paid 19% tds for the default?
Thanku so much ma'am.
Welcome
Ma'am, after payment of penalty for defaults u/s 200A can I download the TDS certificate (form 16B) immediately or wait for ITD email for the successful process ? Thanks in advance
Nice explanation Mam, One question. After depositing default payment, what next we need to do
I also have same question like are we going to receive any notification like payment has been made for the particular default?
Any update for the notification??
Where we get acknowledgement number for login if I want to pay demand for TDS.
Ma'am I just filled it. I put interest inside interest section and total levy inside 234 section. Is that correct? I have one more doubt like is intimation reference number same as correction reference number? Now we receive as correction reference number
Yes
@@voxcovacademy6945 can I get your helpline number. I have some queries.
I have got 2 different communication reference number against same acknowledgement. One was for original and now I made some details correction and again got new intimation reference with same amount on same acknowledgement number
Very nicely explained!
Thanks
'The latest statement filed for the specified search criteria is not processed, please check later' ------ Ma'am yeh likh k aa rha. Jb bhi justification or default p check kr rhe. Please guide me. Thank u
I am getting the same issue for 3-4 days.. Is it resolved for you?
Mam, Correction Statement for Acknowledgement Number AXXXXXXXXXX is processed without defaults u/s 154 mail received after approval by seller does it mean its corrected correctly and can Ignore the notice of penalty payment please guide.
Thanks madam
Welcome
Hello Mam
Thank for for the detailed information.
I need some more guidance. I made the payment to seller on 14th April and submitted the TDS a week later on 22nd April.
On 25th April i got this default notification and they are asking for 1% interest on the full tds amount.
So i need to know as per rules within how much time should the tds be submitted after making payment to seller? Is the demand of 1% interest on TDS amount justified for 1 week delay?
Yes
Thanks for your response. So does it mean we should submit tds on the same day of the payment to seller?
Somewhere i had read that we can submit tds within 30days of payment to the seller
Yes,TDS needs to be deducted the same day.. deposit is done as per due dates..i.e. 7th of next month
Ok, thank you mam.
Thank You
Welcome
Hi @voxcovacademy6945 ma'am, I have one query regarding the same where I have submitted form 26QB correction where I changed Date of Payment and Date of Tax Deducted, however Sellers PAN approval I received and now it is showing current status as Pending for AO approval. I have a query If this AO person will approve it online, would that be done and completed the process or post online approval from AO, I have to submit some documents as proof to AO office physically?
Please help me as early as possible, its really urgent ma'am.
Thanks
Submit docs to AO
Mam mujhe mail aya hai "Regular Statement for acknowledgment number is processed without default u/s 200A" iska matlab mujhe TDS pay karne ki zarurat nahi hai na
If i have raise a request 26 QB using DSC for Date of Payment and Date of deduction correction does it require AO approval . if not the how it will flow like like after PAN of seller approval where its goes ? bcoz earlier as i have raise a request , which by pan seller approval it goes to AO approval and rejected though i have submitted all necessary doc. to AO income dept.
I am facing the same issue, can you please help me.
maam demand reference number is not available, how to get that ?
Madam, maine Tds Return 26QB correction ( Mistake in FY ) change karke (Seller ki details pata hai)submit kardi hai lekin Pending for PAN Approval kon karega aur kaise aur kahase karega uski koi jankari muje pata nahi hai to please aap kuch guide kijiye.
Seller approve karega
seller kaha se approve karega
@@rahullad8613 Seller open traces site as status of Tax payer & check Track correction request. Then he approves
Hi, thank you for the explanation. For option 2 when I click on the demand payment on income tax portal e-pay "Demand payment for TDS for property purchase 26QB" is not there. Instead "Demand payment as Regular Assessment Tax (400)" is present.
I am assuming the govt. has updated the website. Can you please help me with the latest approach for demand payment
What was the solution for this
Payment hone k Bad Traces pai jaa k correction krna hoga ya demand apne aap hatt jaye gi?????
Please reply Mam. Same doubt
I also have the same question
We have not recieved mail then how can i get reference number.
Mam i had got demand and i payed it TDS26QB but after paying do i need to do something else because in traces it is showing the payment i maid earlier as fully consumed and the demand i payed is shown as partially consumed is their anything i need to do?
not till Fy2017-18.Pl ammend previous MSG.