Tds 1% on sale of immovable of property

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kumudprakash k doshi (Querist)
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20 May 2016 A. seller sold the property of Rs. 70.00 Lakhs and purchaser deducted and deposited the same in time my question is
that if the seller does not have any other income and he has invested the capital gain in Capital Gain Tax bonds with in prescribed time then will he get the refund of TDS

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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21 May 2016 Yes, he can claim and get the refund of excess TDS.

Hopefully following articles may be helpful :

https://taxguru.in/income-tax/notices-related-tds-immovable-property-purchase.html

https://www.caclubindia.com/articles/understanding-tds-on-purchase-of-immovable-property--26698.asp

Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615

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KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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22 May 2016 Yes, seller has to file return, if income less than taxable limit after computing all heads of income claim refund.

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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22 May 2016 Dear Experts do not reply the same as already replied, if nothing new to say than try to reply fresh open queries? Your reply may be increase your score but due to this it waste others times.

Message likes : 3 times

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