TDS on Sale of Property

Sale of property happened in 2018-19 but purchase deposited TDS on sale of property deducted in next financial year as bank loan disbursed in next year. 

Now will i face problem while claiming refund in FY 19-20 as no corresponding Capital gain Income in FY 19-20, as capital gain shown in 2018-19 (Fully exempted) ?

  

Replies (3)
Quick Summary
This discussion addresses a common issue where TDS on property sale was deposited in a later financial year than the sale itself due to bank loan disbursement delays. The user is concerned about claiming a refund for FY 19-20 when the capital gains were declared and exempted in FY 18-19. Advice suggests the purchaser can rectify the TDS deposit, allowing the seller to then file a rectification application to claim the refund.

Ask Purchaser to rectify. and Seller shall file rectification application and get additional refund.

Purchaser can rectify this. and seller can get refund

THANK YOU VERY MUCH 

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