|QUERY:||In sale deed of immovable property PAN was wrongly mentioned of Individual instead of HUF. Therefore purchaser has deducted the tax and paid to Central Government on the basis PAN supplied of Individual. The property was all along assessed in the hands of HUF and rent received from the said property was also assessed in the hands of HUF. How to rectify?
|ANSWER:||Click here to read the full answer of the expert|
|EXPERT:||CA. H. N. Motiwalla|
|CATCH WORDS:||Permanent account number –Wrong quoting of PAN|
From the facts it is clear that purchaser has deducted tax on PAN of Individual and paid to the Government. Therefore, seller should request the purchaser to revise his TDS return by quoting correct PAN of HUF. So in Form 26AS the TDS amount would reflect in the name of HUF.