Tds dedcuted u/s 194 ia....
This query is : Resolved
28 September 2018
Dear Friends,
Is it permissible to adjust the tax deducted on sale of immovable property against tax liability of the the relevant previous year?.
Is it permissible to adjust the tax deducted on sale of immovable property against tax liability of the the relevant previous year?.
CA Ankit R Momaya
(Expert)
28 September 2018
Yes, it is possible if the corresponding income is offered to tax in the relevant PY.
12 October 2018
Thank you, Sir....The IT Dept did not consider this while making the assessment...will ask for rectification u/s 154...Thanks ,,once more
CA Ankit R Momaya
(Expert)
13 October 2018
Which AY is it related to ? and Whether the IT Officer has not considered it or the Intimation received u/s 143(1). ?
13 October 2018
AY was 2017-18 .Though the assessee claimed it, but under the intimation u/s 143 no credit was given for tds related to transfer of immovable property.
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