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Income Tax and TDS on Sale of Property

Tax queries 107 views 1 replies

santhosh kumar

1 Points Joined March 2025

Hi All,

I bought a flat in Mumbai at 56 L in June 2017, now in April 2025 , I m selling flat at 63.5L, broker said buyer will pay 1% as TDS and later it will be refunded to me when I file ITR ,Can someone please help me to understand at the time filing my ITR how much tax I should pay(definitely for me it is long term capital loss)and how tds will be adjusted/refunded?

thanks in advance

Regards,

Santhosh.

Replies (1)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

198495 Points Joined July 2016

Your tax liability over sell of the flat will be nil. Your other income would be taxed as per regular assessment and the TDS would be adjusted against the tax liability, if any. Excess would be refunded back.