Query in tds on sale of property.
This query is : Resolved
14 October 2015
Hi,
I sold my house and the buyer deducted tds of Rs. 105000.
I immediately bought another house where tds I am supposed to deduct is Rs. 157000.
My tax advisor is suggesting I should deduct 157000 and pay only the differential amount of Rs. 52000.
Is this treatment correct?
If not, what is the right thing and how can I claim deduction for the 105000?
Pls help.
14 October 2015
You have to deduct 157000 and pay the full amount to Govt. File return and claim refund of 105000 that is the right way.
14 October 2015
Okay... So I can take the tds credit like any other tds in 26AS after showing the capital gain transaction in the ITR?
14 October 2015
Yes you are right.........
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