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CPC(TDS) Advisory for Deposit of Tax deducted and Demand for TDS Defaults with respect to Purchase of Immovable Property

CPC(TDS) has issued an advisory for deposit of tax deducted and demand for TDS defaults with respect to purchase of immovable property (26QB Statement-cum-challan).

The issued advisory has been given below:

The Centralized Processing Cell (TDS) provides important tips, for the convenience of Taxpayers, who have executed any transaction for Purchase of Immovable Property exceeding Rs. 50 Lakhs (Rupees Fifty Lakhs). Please take note of the following key details for Payments associated with filing of 26QB Statements-cum-challan and TDS Defaults, if any:

Filing of 26QB Statement-cum-Challan:

1. 26QB Statement-cum-challan can be filed (along with payment of tax), under “Form 26QB” in “TDS on Sale of Property”on the payment portal of NSDL.

Filing of 26QB Statement-cum-Challan

2. The tax to be deposited only through the Statement-cum-Challan mode (Form 26QB). No other challan, viz. Demand Payment, 280/ 281 etc. to be used for the same.

Payment against TDS Defaults:

1. On receipt of Default Intimations from CPC(TDS), the Payment against demand raised should be made through the Demand Payment link at NSDL portal, as follows:

Payment against TDS Defaults

2. The payment of Demand for closure of Defaults has to be made only through the above online mode. No other challan, viz. 280/ 281 etc. should be used for payment of demand.

CPC (TDS) is committed to provide best possible services to you.

CPC (TDS) TEAM

Source: TRACES

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CPC(TDS) releases Online Correction Facility for 26QB Statements

Dear Buyer of Immovable Property,

The Centralized Processing Cell (TDS) is pleased to inform the release of Online Correction facility for TDS statements filed in form 26QB, with respect to tax deducted at source on transfer of Immovable Property exceeding Rs. 50 Lakhs.

The Online Correction facility at TRACES can be used for closure of the following TDS Defaults, arising due to incorrect data entry in the 26QB statement:

  • Late Filing Fee is levied in accordance with section 234E of the Income Tax Act, 1961 where a person fails to file the TDS statement within the prescribed due date
  • Short Deduction and Interest thereupon is computed when the rate at which TDS deducted is less than 1% of the consideration for transfer
  • Late Deduction Interest is applicable, if the date of deduction is after the date of payment or credit
  • Late Payment Interest is applicable, when deductor deposits the tax deducted after prescribed due date for deposit of challan deposit

Requirements for Online Corrections:

  • Registration at TRACES is mandatory for using the Online Correction facility. Please refer to the e-tutorial for Registration at TRACES

The Correction facility can be availed by using Digital Signature Certificate (DSC). Users without DSC, have an option to facilitate the correction through TDS Assessing Officer.

Following fields of 26QB statements can be corrected using the Online Correction facility:

  • PAN of Buyer Details
  • PAN of Seller Details
  • Amount Paid/Credited
  • Date of Payment/Credit
  • Date of Tax Deduction
  • Financial Year
  • Property Details

Corrections related to email address; Mobile Number and Address of the Property will not require DSC or Assessing Officer’s approval.

Please refer to the FAQ’s and e-tutorials on 26QB corrections for any assistance with the above. If you still face any problems, you are requested to raise your grievance through “Request for Resolution” on TRACES with screen print of the error.

For further assistance, you may contact our Helpdesk at 18001030344, 0120-4814600. CPC (TDS) is committed to provide the best possible services to you.

CPC (TDS) TEAM

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Defaults in quarterly TDS Statements exceeding 10 Lakhs from FY 2007-08 to 2015-16, Qtr 1

CPC(TDS) has issued a follow up communication to all deductors regarding outstanding Defaults in quarterly TDS Statements submitted by them during FY 2007-08 to 2015-16, Quarter 1.    

The issued communication has been given below:

Dear Deductor (TAN XXXXXXXXX)

Centralized Processing Centre (TDS) has observed from its records that as on 31st August 2015, there are outstanding Defaults in quarterly TDS Statements submitted by you during Financial Year 2007-08 to 2015-16, Qtr 1. 

The details of outstanding Defaults for the respective Financial Years are as follows:

quarterly TDS StatementsActions to be taken:

  • Please download the latest Justification Reports from our web portal TRACES to view details of outstanding demand.
  • If required, please use Challan ITNS 281 to pay the demand with your relevant Banker.
  • Please submit a Correction statement without any further loss of time for closure of the outstanding demand.
  • Online Corrections facility on TRACES can be used to submit corrections to payoff/ close the demand. To avail the facility, please Login to TRACES and navigate to Defaults tab to locate Request for Correction from the drop-down list. You can refer to our e-tutorials for necessary help.
  • In case of Short Payment Defaults due to Unmatched Challans, please use Tag Unmatched Challan facility using Online Corrections.
  • In case of Short Payment Defaults due to Insufficient Challans, please use Move Deductee facility using Online Corrections. With use of this feature, a portion of the Deductee Rows can now be moved to any other Unconsumed OLTAS challan with adequate balance.

For any assistance, you can write to ContactUs@tdscpc.gov.in or call on 18001030344.

CPC (TDS) is committed to provide best possible services to you.

CPC (TDS) TEAM

Source: TRACES

Please refer to the other similar communications from TRACES:

Defaults in quarterly TDS Statements exceeding 25 Lakhs from FY 2007-08 to 2015-16, Qtr 1

Defaults in quarterly TDS Statements exceeding 50 Lakhs from FY 2007-08 to 2015-16, Qtr 1

Defaults in quarterly TDS Statements exceeding 1 Crore from FY 2007-08 to 2015-16, Qtr 1

Defaults in quarterly TDS Statements exceeding 5 Crore from FY 2007-08 to 2015-16, Qtr 1

Defaults in quarterly TDS Statements exceeding 10 Crore from FY 2007-08 to 2015-16, Qtr 1

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Closure of defaults in Quarterly TDS Statements from Financial Year 2007-08 onwards

CPC(TDS) reminder communication to banks regarding closure of defaults in Quarterly TDS Statements from Financial Year 2007-08 onwards.

The issued communication has been given below:

The Principal Officer
Name: XXXXXXX
TAN: XXXXXXXXXXXX

Please refer to the earlier CPC(TDS) Communication regarding defaults in TDS Statements for different TAN’s associated with your PAN. The Centralized Processing Centre (TDS) has observed from its records that there are Defaults in Quarterly TDS Statements submitted by different TANs associated with your PAN.

The details of the TANs and outstanding Defaults against them as per Financial Year have been provided as annexed with this letter. Form Type and Quarter wise details of the above are also available to you to be viewed online on the web-portal TRACES (www.tdscpc.gov.in) under “Aggregated TAN compliance Report”.

Please note that:

  • Order u/s 201 Intimation u/s 200A of the Income Tax Act, 1961 intimating the outstanding demand for different years has already been sent by Income Tax Department on Registered email address and by post, at the address, as mentioned in the relevant TDS Statement to the relevant deductors (TANs).
  • This information is being provided to you for further necessary action for closure of Short Payment Defaults at the earliest by moving deductee rows/ matching/tagging of Unmatched challans or by payment/ tagging in case of Insufficient challans.
  • This would be helpful for you in complying with the provisions of section 40(a)(ia) of Income Tax Act, 1961 and to ensure that correct information is disclosed in paragraph 21b(ii) of Tax Audit Report(Form 3CD) u/s 44AB of the Income Tax Act.

Actions to be taken by the TAN holders associated with you:

  • Download “Aggregate TDS Compliance Report” from our portal TRACES for the details of Short Payment defaults against each TAN associated with your PAN.
  • Quarter-wise Justification Reports can be downloaded by the referenced TANs from our portal TRACES for the details of Short Payment defaults.
  • Please use Challan ITNS 281 for payment of TDS in case of Insufficient Challans.
  • Online Correction facility provided by TRACES should be used for closing the above defaults by suitably moving deductee rows/ matching/ tagging of challans.

For any assistance, you can write to Corporate_connect@tdscpc.gov.in or call on +91 120 4816103.

CPC (TDS) is committed to provide best possible services to you. 

Kailash V Gautam
Assistant Commissioner of Incomer Tax
Centralized Processing Cell- TDS

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