Can I adjust TDS while selling property at the time of filing my IT Returns ?

POSTED BY msbhalla ON January 14, 2015 7:51 pm COMMENTS (2)

Recently, I sold property worth more than 50 lakhs. The buyer deducted 1% and submitted the same with IT department, and gave the tax certificate to me.

Now, my question is that, as a salaried professional, how can I get it adjusted with my company? Can I submit tax certificate as a proof to my organization? If yes, under which section does this category falls in?

if no, can I adjust it during ITR filing? How?

Regards

2 replies on this article “Can I adjust TDS while selling property at the time of filing my IT Returns ?”

  1. amar ante says:
    January 20, 2015 at 9:50 pm

    Dear Manish,
    I am buying ready-to-move property of more than 50 lakhs cost. When and where 1 % TDS is deposited? Whose responsibility is this? Now can I (re)claim this TDS amount by filing returns or else? Or is this simply a tax (like VAT, Stamp Duty, Service Tax, etc.) and can not be claimed?
    Thanks in advance.

    Reply
  2. Manish Chauhan says:
    January 14, 2015 at 8:56 pm

    You can adjust this TDS part at the time of filing returns .

    Reply

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