• TDS on property sale - wrong amount entered in online banking

Subject: TDS for purchase of apartment - wrong amount entered in online banking form when paying TDS

Sequence of actions (handled correctly)
1. Paid regular installment to builder for purchase of property
2. Deducted 1% of demand amount as TDS (Amount. Rs. 4749)
3. Filed online Form 26QB for deposit of said TDS
4. All information in Form 26QB is reviewed and found to be correct
5. Selected online banking option for payment of TDS

Sequence of actions that were not handled correctly
1. In the online banking form, entered wrong tax amount by mistake. Amount entered was 4648 instead of the required amount 4749.
2. Submitted the payment and a challan got successfully generated for the wrong amount 4648.

How to rectify from this situation?
Asked 7 years ago in Income Tax

You have remitted short by Rs 101/- . You remit this amount by following the same method for the remittance of Rs 4,648/-.

You can mention the short remittance in the remarks, if possible.

B Vijaya Kumar
CA, Hyderabad
1004 Answers
124 Consultations

5.0 on 5.0

Hell Sir,

You can file a separate challan for the differential payment.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB-GEN, CERT. FAFP

Rohit R Sharma
CA, Mumbai
2104 Answers
95 Consultations

5.0 on 5.0

Hi,

No a big issue. You can file separate challan for differential amount exctaly the same way as you did it for earlier.

Trust the above suffice your requirement adequately.

Please feel free to call/ revert in case of any doubts

Thanks and Regards

Abhishek Dugar

CA CS B.Cm

Abhishek Dugar
CA, Mumbai
3576 Answers
183 Consultations

4.8 on 5.0

Hello,

You may make the balance payment now. It is not an issue.

Regards

CA Keerthiga Padmanabhan

M.Com., CA, LLB

Keerthiga Padmanabhan
CA, Greater Mumbai
784 Answers
27 Consultations

5.0 on 5.0

Ask a Chartered Accountant

Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
  Ask a CA