Purchase of a flat in Mumbai at a price exceeding Rs.50 lakhs.

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  1. rgkamath

    rgkamath New Member

    I have bought a flat in Mumbai, jointly with my wife, for a price exceeding Rs.50 lakhs. Tax at appropriate rates were deducted from the payments and deposited into the bank account of our CA who has been advising us and filing our returns for the last many years.

    Our CA and his office deposited the tds well beyond the due dates and also forgot to file the tds returns for more than a year, when the sellers and their CA brought up the matter. It was pointed out to us that penalty at Rs.200 per day would be levied on me and my wife for the number of days delay in filing returns. (Approx. Rs.1.80 lakhs).

    As a layman having no knowledge of Tax matters, and the delay being in filing a Return and not in payment of government dues, please advise me whether there exists any provision in law or any Authority which can help withdraw or at least reduce the penalty, considering that no loss has been caused to anyone.

    Awaiting your response eagerly.

    RGK, Mumbai
  2. rgkamath

    rgkamath New Member

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