Reversal of TDS on sale of land
This query is : Resolved
SHALINI MENDIRATTA
(Querist)
10 June 2025
Hi
The assessee is the proposed non resident seller (NR) and accepted advance for sale of his property in FY 2023-24 & 2024-25. TDS was deducted and deposited to Govt by the resident buyer on applicable rates. Since the sale deed was not executed in FY 2023-24 & 2024-25, the NR has not claimed the same in his tax return and has deferred the said claim each time to next year.
Now, in FY 2025-26 the sale agreement has been cancelled. Pls advise-
1. Can TDS be reversed by the buyer and can buyer claim TDS refund?
2. In case the NR Seller claims TDS in his tax return, what problems can he face as he will not be able to show any income against such TDS claim.
Thank you in advance.
The assessee is the proposed non resident seller (NR) and accepted advance for sale of his property in FY 2023-24 & 2024-25. TDS was deducted and deposited to Govt by the resident buyer on applicable rates. Since the sale deed was not executed in FY 2023-24 & 2024-25, the NR has not claimed the same in his tax return and has deferred the said claim each time to next year.
Now, in FY 2025-26 the sale agreement has been cancelled. Pls advise-
1. Can TDS be reversed by the buyer and can buyer claim TDS refund?
2. In case the NR Seller claims TDS in his tax return, what problems can he face as he will not be able to show any income against such TDS claim.
Thank you in advance.
CA R SEETHARAMAN
(Expert)
11 June 2025
See the link to claim TDS refund.
https://prakashaandco.com/tds-refund-process-guide/
https://prakashaandco.com/tds-refund-process-guide/
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