I have recieved short deduction notice due to inoperative pan of seller.(notice on 28 july, deal on 26 th july 2024)
I have paid only 10 percent of deal value ( approx 20 lacs) to buyer rest is to be paid by bank loan(which currently i have put on hold)
Short deduction is around 40 lacs.
Can I cancel this form 26 qb and ask the buyer to link his adhar and pan card
And file for new challan
My query is what happens to
1)my short deduction notice
2)What are the requirements to cancel challan.Will they ask for cancelled sale agreement deed
3)Is it the way out or i have to ask bank to pay tds from this amount and if i cut 40 lacs how many days can buyer get refund.
4) can i appeal to income tax officer after buyer links adhar pan card to revise short deduction notice