I have sold one land and the buyer has deducted TDS worth rs 30k on it. It is already showing in my 26AS.
I haven't collected form 16B from him, Is it really necessary to collect 16b if the amount is already showing on my 26as? will it create any problem while filing ITR? or to get an excess TDS paid refund? please let me know.
| Originally posted by : Eswar Reddy S | ||
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Yes.It is better to collect form 16B from buyer.It's the buyer responsibility to issue the Tds certificate or Form 16B |  |
If I don't get then? I won't able to claim tds refund ?
| Originally posted by : Eswar Reddy S | ||
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Tds can be claimed based on the 26AS but form 16B should be there for future purposes.. | |
Noted
| Originally posted by : Eswar Reddy S | ||
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There is a possibility of Tds reversal . So Form 16B can save you from IT notices | |
In short i can claim tds refund but in case of notice 16b or 26as should be handy? is that you mean>?
| Originally posted by : Eswar Reddy S | ||
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No..If the buyer reverse the after Tds claim then you get notices .So collect form 16B | |
Can you please tell how buyer can reverse TDS ? because on property deals 1% TDS deduction is mandatory and once it is paid and showing on seller's 26as, buyer is able to get it reverse also? is it possible ?
| Originally posted by : CA Surya Sekar | ||
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It's mandatory to collect form 16B | |
Buyer is not giving. :(
Arvindkumar Maniar & Co.
Rajkot
CA
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