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Defective return notice

264 views 6 replies
TDS was deducted on advance payment received on account of sake of property in the FY 2018-20. The TDS reflected in the form 26AS was not claimed and carried forward since we did not offer the capital gain income in FY 2018-19. Now, we have received defective return notice for not offering the income to tax against the TDS is deducted.

Please suggest.

Thanks
Replies (6)
You have to reply explaining the facts.

I assume you had disclosed the same in earlier return for carrying forward to next year.
The capital gains will attract in the year of sale and you cannot carry forward Cg income as per your will and whimps... notice was rightly issued
Sir, based on the query, sales was effected in next year and TDs deducted in earlier year on advance as I understood.

he must have offered in 2019 -20
Rama Krishna ji, TDS on advance was deducted. I don't think this falls within the definition of Transfer. Transfer should take place when the possession is taken which will be determined by the Sale agreement.

I am not an expert just telling the things I know.
Yes Mr. Rahul, you are right and that's why my reply above
Thanks for all the replies.


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