TDS ON SALE OF PROPERTY

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This query is : Resolved

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If you deposited TDS on a property sale in March 2020 but the registry was delayed due to COVID-19, you can still claim this TDS. The seller can claim the TDS credit when filing their Income Tax Return (ITR) for FY 2019-20. This credit will appear in their Form 26AS and can be used to offset their income tax liabilities or claimed as a refund if no tax is due.

Sunil

Sunil (Querist)
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09 May 2020 Dear Sir
I want ask about tds on sale of property we have deposited tds on sale of property in march, 2020 but regisrty has not been done in march, 2020 due to covid-19 and therefore we can take refund of tds deposited or adjusted such tds as self assessment tax at the time of filling ITR.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 May 2020 Seller can claim TDS credit while filling ITR.

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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09 May 2020 It is not affected by registry and the seller will get the credit of the same for F.Y. 2019-20. It will be appearing in form 26AS and can be adjusted with his Income Tax Liabilities or if they do not have any liability, they will get a complete refund of the same.

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