TRACES - TDS Reconciliation Analysis and Correction Enabling System
Harit Aaykar
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How all Defaults are calculated?

Along with the demand notice a Justification report is also send by TDS-CPC. Justification Report consists of various defaults/errors identified by the Income Tax Department (ITD) while processing the form 26QB filed by buyer for a particular transaction on sale of property of a financial year. It provides detailed information about the defaults/errors that needs to be rectified by buyer.