Fwd: TDS Query,

[Priya Mehta]

Dear All,

Kindly help me on this

A person purchased a property from NRI and deducted TDS at 20% plus cess on total consideration instead of calculating LTCG. 

But then he paid challan in Form 26QB. Now in Form 26AS  of buyer and seller the TDS is reflected at 1% only and not at 20%.

How to rectify it and can he use same challan to file Form 27Q. 

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Regards,
Priya R.Mehta

[Kishore Mehta]

If you are deducting TDS at 20%, it is under section 195 and not under 194IA. Pl check how you have filed the return.

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[Priya Mehta]

This mistake is already done by that person as he had not consult any one. So now how to rectify this?

[Kishore Mehta]

Dear Priya,

It is very difficult. Please go and meet TDS officer and concern ITO. Only they have power. You may try.