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brokerage returned by broker after deducting TDS

Tax queries 625 views 2 replies

I have paid brokerage to a broker for purchase of house now he returned me Rs.90000 after deducting TDS at the rate of 10% ie. Rs.10000, is he allowed to do so and will it be treated as my income...i m karta of HUF.

which ITR should i file.

Replies (2)

Hi.


First of all wat ever the amount paid by you in the form of brokerage, when the same is retruned toyou  any extent , it is not in the nature of any brokerage. Hence there is no scope for TDS in this regard.

As the same is paid by you earlier , when you recieve back it is not at all treated as income. Only thing is that wat ever the amount you recieved  back is to be reduced from the value of house property. Bcoz u could have capitalized the total brokerage paid while purchasing such property.


filing the return depends on the type of  income you receive.

Dear Shefali,

I concur with friend above.

 


CCI Pro

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