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Query in tds on sale of property

Others 458 views 2 replies
Hi, I sold my house and the buyer deducted tds of Rs. 105000. I immediately bought another house where tds I am supposed to deduct is Rs. 157000. My tax advisor is suggesting I should deduct 157000 and pay only the differential amount of Rs. 52000. Is this treatment correct? If not, what is the right thing and how can I claim deduction for the 105000? Pls help
Replies (2)

Please see your 26AS and verify whether the Buyer has really deposited the TDS .

Nowadays plenty of fraud is happening. The agreement should clearly state full amt and the component of TDS. Failure of  paying TDS will lead to cancellaion of agreement -should be there in agreement.

Regarding Differential TDS - If you have deducted x amt then that amt should be paid.

Please note the beneficiary of both TDS are different. First TDS as a seller you are the beneficiary  second TDS as buyer - the one who sells is the Beneficiary.

These two are seperate PAN nos. So full  157000 should be deducted and paid to Govt acc.. 

Okay... Thank u so much :)


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