I have wrongly calculated and paid TDS using Form26B. Instalment amount Paid to builder = 700000.0 Incorrect amount of TDS entered in Form 26QB and paid = 7000.0 Correct value should have been = 7071.0 Please advise how to handle this situation.
You have deducted 1% of the amount paid to builder then where is the problem?
Even if you want to make changes to the tax paid column of form 26QB then you need to again file form 26QB as you can't revise this column of form 26QB.
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Thank you
I believe tax deduction at 1% would be 7000, not sure how do you get 7071. Any case, you should now proceed and file the correct form ie 26QB with all the correct details.
You should amend form 26B if permissible, else write a letter to ignore the same.
Dear Sir,
Now, you can file form 26QB again with correct details.
Hi, It is not clear, how to file 26QB again. Does it mean that I create fresh 26QB and pay tax again?
Yes.
It's a challan cum return so in case if you want to pay any tax you need to again file form 26QB for remaining amount.
Use normal procedure to file 26QB. Don’t have to pay tax again. Use the same Challan. You have field 26B, and not 26QB earlier. So write a letter to ignore the 26B. Do call if you need further clarifications.
Dear Sir,
Hope you are doing well !!
You need to again file form 26QB for remaining amount.
You just need to pay remaining tax.
Hi,
File the new form with difference amount.
Dear Sir,
File the new form 26QB for remaining TDS amount