TDS U/C.194IA
This query is : Resolved
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Mahabir Prasad Agarwal
(Querist)
09 March 2021
One of my client purchased a flat for Rs.50.00 lac and deducted 1% TDS u/s.194IA and deposited the same to the Central Govt. a/c. The 26AS form of my client shows the Total TDS deposited 50,000/- and Total Amount Deposited Other than TDS Rs. 35,050/-. I think, the refund claim against TDS of 50,000/- will be of Seller. But I could not understand " Total Amount Deposited Other than TDS Rs. 35,050/. Please guide me.
CA R SEETHARAMAN
(Expert)
10 March 2021
It will be advance tax/ self assessment tax paid by himself.
Mahabir Prasad Agarwal
(Querist)
10 March 2021
But sir, the buyer (deductee) has to file his ITR declaring his income u/s.44AD .Hence, where in the ITR, he will show the TDS amount ?
CA R SEETHARAMAN
(Expert)
10 March 2021
The buyer is the deductor.
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