Hi all
In ITR 2 under TDS there is 18C (TDS 3) mentioning "Details of Tax Deducted at Source (TDS) on Sale of Immovable Property u/s 194IA (For seller of property)(Form 26QB)"
I have bought a flat during this year and I have deducted TDS from Buyer and submitted 26qb / Form 16B to the buyer during the year. My 26As reflects these transactions. My questions are when I am filing income tax
1) Should I mention anything under this head 18C TDS - I am the buyer and as a buyer should I do this? .Under this the first column says PAN of the buyer. It does not make sense.
2) Should I mention about the TDS deduction during buying property from seller anywhere in ITR 2?
3) My understading is that this clause is relevant only for Sellers to claim TDS amount. Buyers should ignore this even though they have deducted TDS. Is this understanding right?
Please help.
CAclubindia
