TDS u/s 194IA - on sale of House Property

271 views 4 replies

Dear Sir(s)/ Madam (s)

One of my relative sold a property at Rs. 55.00 lakh on which the buyer has deducted TDS u/s 194IA of Rs. 55,000/-. Entire Capital Gain of Rs. 40.00 Lakh ( calculated) has been kept in Capital Gains Account Scheme 1988. Hence, no capital Gain tax payable for the AY 2020-21. Can he get refund of Rs. 55,000/-, as he has no tax liability for the year?

Replies (4)
Yes Ofcourse
Yes he can get
From 14th May 2020 to march 2021 the TDS rate is 0.75% i.e. Rs.41250 he has to deduct as TDS, if he remitted means no problem u can claim refund after your income tax return.
Thank you all so much for your valuable guidance.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 29 June 2026
Article Assistant

Alvino Consultancy LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details