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Question ID : 41073


If total amt of sale consideration is 50 lacs and advance already paid before applying lower deduction certificate is 10 lacs and now lower deduction certificate is applied on whole amount of sale consideration i.e. 50 lacs but dept has issued lower ded cert on amount of rs. 40 lac only and buyer is saying he will ded tds on 40lac at rate specified in lower ded cert and on 10 lac (which was given as adv on which earlier no tds was ded), normal rate as mentioned in 195 will be deducted. Is it right from angle of buyer? if yes then whats the remedy with us shall we approach to department and how? bcz everything is online no manual response from dept we got as of now?

Posted by jyotika on Jun 14, 2021

Filed Under TDS/TCS

Answer ID : 81240

Buyer is not correct as per TDS it is the responsibility of of payer to deduct tax at source. To avoide leagal complications seller can pay TDS amount in the name of seller mentioning his PAN with interest if applicable

Posted by Hari Beldona on Aug 24, 2021