Tax on property purchase
This query is : Resolved
29 December 2014
i am IPCC student . i come across the tax on property purchase and we issued FORM 16B also issued .
The seller can adjust tax deducted on sale of property in his return of income. or tax deposited by buyer in to central government account. how it will shown in income tax return.
kindly help us to understand the tax clearance matter.
K.Ramesh.
Jolarpet
The seller can adjust tax deducted on sale of property in his return of income. or tax deposited by buyer in to central government account. how it will shown in income tax return.
kindly help us to understand the tax clearance matter.
K.Ramesh.
Jolarpet
Rupesh Jain
(Expert)
29 December 2014
it is TDS deduction by buyer on buying the property. when seller file his return then he can claim the TDS.
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