Tds claim
This query is : Resolved
Dilip Datta Choudhury
(Querist)
16 June 2017
My client received an advance of Rs.70 Lakhs against sale of property. Accordingly , TDS was deducted by buyer @1% i.e. Rs.70,000/- as per Income Tax Act, 1961. The sale was executed in the next Financial Year.
Now, while filing Return of Income for the A.Y.2017-18 shall I claim refund of TDS of Rs.70,000/-. My assessee have only pension & other sources income of Rs.3,50,000/-. Please advise.
Now, while filing Return of Income for the A.Y.2017-18 shall I claim refund of TDS of Rs.70,000/-. My assessee have only pension & other sources income of Rs.3,50,000/-. Please advise.
CA Rashmi Gandhi
(Expert)
17 June 2017
Yes you can claim deduction of same & also c/f it to next year.
18 October 2021
No, claim the TDS against CG in next AY. 2018-19
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