banner_ad

Tds on property

TDS 491 views 1 replies

TDS on immoveable property is 1% on the sale value above 50 lacs.

I have few question: 

 

1) What if the property is co-owned and sold for 95 lacs? Whether TDS will be applicable or not? 

 

2) If it cross 50 lacs and TDS is deducted at the rate 1%, and also TDS return filed, how does one claim the credit of TDS? Whether it will reduce total tax liability or tax liability of salary or income from house property or tax liability arising out of capital gain? 

 

3) If TDS can be claimed over total tax liability, can one show it to the employer and not deduct any TDS from salary for that year because tax has already been paid?

 

4) Can this TDS be claim in the same year or any other year? 

 

5) Will TDS apply only to sale of property or even other types of transfers such as release/relinquishment of rights?

 

Thanks 

Replies (1)

I also need update on the questions raised/

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details