TDS claimed for landlord

As per section 199 of the IT Act, the TDS credit is available in the year in which the corresponding income is offered to tax. Hence, depending upon the year in which the income is offered to tax, you can claim the credit for TDS in that year. For eg. if the tax was deducted in FY 2020-21 but the corresponding income is offered to tax only in FY 2021-22, the TDS can be claimed only in FY 2021-22

But this is capital gain income , but how he calculate his income as he got advance payment only, he can not taken full amount which he got from promoter. For example total valuation of property is Rs. 2 crore, he got only 70 lacs(TDS 10%) in FY 2021-22, so how he calculate his taxable income?

Is this JDA? or when will he be getting the full consideration / year in which he will be offering the capital gains to tax. You can claim the credit for TDS in that year

Yes, it is JDA, he will get full consideration after CC

In light of section 45(5A) of the Income-tax Act, 1961, the gains should be taxable in the year in which the certificate of completion for the whole or part of the project is issued by the competent authority. Further, as per section 199 of the Act the TDS credit is allowed only in the year in which the corresponding income is offered to tax. Since in the instant case it would be offered in later year, the TDS credit will be allowed in that particular year. To get better understanding,

If the CC is received in FY 2023-24, the gains from the JDA will be taxed as income in FY 2023-24. The TDS done in FY 2020-21 can be claimed only in FY 2023-24 since the gain is offered to tax in that FY (i.e. FY 2023-24).

Its means current year tds i.e for F.Y. 2020-21 will be carry forwarded upto FY 2023-21 .

Yes. The TDS for FY 2020-21 will be carried forward to FY 2023-24. Would suggest that you maintain proper documentation (i.e. Form 16A, Form 26AS, agreement copy etc.) which showcases that the tax was deducted in earlier year and the same was not utilised in any of the earlier years. It is imperative to note that ITR form also has provision for claiming TDS in a year other than the year in which TDS was done

Thank you for your valuable reply...

Please ensure while applying provisions of sec,45(5A), the agreement should be registered.