Sai Prasanth (Student) (36 Points)
16 August 2018Dear Sir/ Ma'am,
At the time of purchase of house property Rs. 50,000/- discount has been given by the third party.
In detail, Rs.50,000/- after deduction of TDS @ 5 % (as commission) cheque is given to me.
Whether I have to show this as my income as TDS amount is reflecting in my 26AS.
Sai Prasanth
(Student)
(36 Points)
Replied 16 August 2018
Can i know the basis. In fact it is reduction in my cost right.
Ashwin Kumar
(CA ipcc)
(449 Points)
Replied 16 August 2018
it is simple if you dont show the amount of rs 50000 in your income then you wont be able to claim the same from the gross tax payable as the net tax payable is arrived after reducing tds and advanced tax. better you show it or you wont be able to reduce the same from your tax liability
CAclubindia
