Capital Gain Tax Implications
This query is : Resolved
11 March 2020
Hello,
One of my client (Husband) filed income tax return showing capital gain income and paid tax also however buyer deducted property TDS @ on 1% (Rs.76000/- ) wife pan and the same is reflecting in wife pan and It returns of wife is not filed.
1. Now my question is how to get the refund of TDS 76000 of the property value 76,00,000/-. what the best way to sort out the above issue?
One of my client (Husband) filed income tax return showing capital gain income and paid tax also however buyer deducted property TDS @ on 1% (Rs.76000/- ) wife pan and the same is reflecting in wife pan and It returns of wife is not filed.
1. Now my question is how to get the refund of TDS 76000 of the property value 76,00,000/-. what the best way to sort out the above issue?
12 March 2020
The deductor may be requested to revise the Form 26QB by quoting Husband's PAN instead of wife's. Secondly the Income Tax Return of Husband be revised after TDS amount is reflected under his PAN in 26AS.
05 November 2021
It seems wife is the owner of the property. Query may be raised by department, if wife's ITR not filed. The query requires more information for better solution.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Under construction property in ITR
- Not able to file ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Foreign inward in ITR
- Rental income of jointly held property
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
