Tds
This query is : Resolved
08 April 2015
What is the concept behind deducting tds. say for eg there is tds on immovable property, the seller receives amt less tds, n tds amt is received when he files d income tax return. Where the amt as well as tds can be received in one go.
08 April 2015
TDS is just like advance tax. Seller is making income on which he is liable to pay Income Tax. When TDS is deducted in a way he is paying advance tax on his income. Further it is not that he will get refund by filing Income Tax Return, he will get refund only when tax paid by him is more than his tax liability.
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