A TAX PAYER RECEIVED ADVANCE AGAINST SALE OF PROPERTY. THE BUYER DEDUCTED TDS THEREON. NOW DUE TO DISPUTE, THE SELLER IS REQUIRED TO REFUND THE NET AMOUNT PLUS TDS DEDUCTED. IS THERE ANY LIABILITY FOR THE SELLER TO DEDUCT TAX ON THIS REFUND AMOUNT?

I have received a lower deduction certificate under Section 197 of Income Tax Act specifying a TDS rate of 0.31%. The total sale consideration is ₹90 lakhs.

I’m confused about how to apply this rate:

Should I deduct TDS at the flat rate of 0.31% as mentioned in the certificate, or
Do I need to add surcharge and cess separately over and above this rate?

Also, one person suggested a split approach:

₹1 lakh already paid (ADVANCE) to be taxed at 12.5% + surcharge + cess, and
The remaining ₹89 lakhs at 0.31% + surcharge + cess

However, my understanding is that the rate mentioned in the certificate should be applied directly, without adding anything extra, as per Section 197.

Can someone please clarify the correct method and help compute the exact TDS amount?

Sir,
I took an advance of 25 lakh against sale of flat in FA 25 - 26. I used the amount to pay advance to buy a property in Same FA 25 -26. However sale of my flat is scheduled in current financial year.
Is there a tax implication and do I need to show in ITR.
Thanks!

Original residential property holder Father since 1991. (Market value not known for 1991) Property transferred to legal heirs on 07/02/2019. It was given for redevelopment on 25/11/2022.No financial consideration/monetary benefit since it is redevelopment. Occupation certificate received on 05/08/2025. 4.77% Part of the property (Carpet area) sold in March 2026.What is the Tax applicable for AY 2026-2027 for ITR2 form.

Builder has reduced the Total Consideration Value of the flat suddenly after some adjustment for GST. I have already paid FIVE instalment and deposited the TDS quoting old hire value in FORM 26QB. Can I just pay the balance as last instalment and TDS quoting new reduced value or I have to rectify all previous FORM 26QBs?

My aunt has invested 500K In 54EC BONDS, she made her son and daughter as nominees for 50% portion each. son is an NRI? Is any tax is applicable when withdrawing after maturity for an NRI NOMINEE? SON has an NRO account in India
Whether any withdrawal tax is applicable for a daughter who is a resident indian?
Aunty wants to provide for granddaughter (sons daughter) some amount for education. can she deposit in sons NRO account w.o. tax. please advice with solution?

Sir,
Need the detail for TDS deduction on the luck and draw coupans- prize Car

Hi everyone,

I’m trying to amend Form 26QB on the TRACES website and running into a strange issue.

• I submit the amendment request.
• I get a confirmation saying the request has been successfully submitted.
• When I check the Request Status after about 10–15 minutes, it shows “Declined.”
• The PAN and Acknowledgement Number entered are correct.

This is happening for multiple Form 26QB filings that were filed incorrectly and now need amendments.

I’m trying to understand:
• What are the common reasons for an amendment request getting declined after successful submission?
• Is this usually due to a validation issue, timing issue, or a known TRACES system bug?
• Are there any specific checks or prerequisites I should verify before re-submitting?
• Is there a recommended workaround, like waiting longer, re-filing at a certain time, or using a different correction type?

Any guidance from someone who has dealt with this recently would be really helpful.

Thanks in advance.

A person who was born in India but now staying outside India wants to buy residential property in India. To be specific, currently the person does not have OCI status as well (in process). He has a NRE bank account in India. The queries are as follows:
(a) Fund transfer - Can the person transfer funds from a foreign bank account to NRE bank account for payment for the property? Are there any issues or considerations?
(b) Tax implications upon sale of property?
(c) The person already has a house property in India which he will transfer and invest that amount also in the new house property. Will he be eligible for capital gain tax exemption under section 54 of the Act?

I have make two rtgs/cheque payment to my son as gift transferred in bank of India and pnb

9.85 lacs in bank of India
9.85 PNB
He made FD of the above amount in both bank 9.85 each in both bank

1. Whether notice from IT deptt may be received by my son because total amount of both fd exceeds 10 lacs

2 I have made Gift deed on plain paper hand written. Is it sufficient?

3. Whether IT Depptt will harass my son regarding making fd?

4. The money as gifted by me is received by me from govt company on my superannuation.
5. What documents will income tax department may be asked?