Income from property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2017 Dear sir/ madam

I am salaried person. I have taken a land orchid property for which my tds is deducted by the bank on behalf of seller . So while filing the retns which itr should I use ?As The TAN no of buyer is not there.And Itr 1 asks for TAN no.
I have only form 26QB . Please help. Urgent Thanks

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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04 August 2017 I have taken a land orchid property for which my tds is deducted by the bank on behalf of seller .

Pls clarify whether you are the seller or buyer. Because, tds on sale of property will be done by buyer while making payment

Querist : Anonymous

Querist : Anonymous (Querist)

05 August 2017 I bought property last year for which tds is deducted by me on behalf of seller , . I have got 26QB. Can I claim the amt deducted or seller should claim it?
1.Which ITR is suitable for me as earlier I used to file ITR 1. I have salaried income.

Pls help .Very Thanks.

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Querist : Anonymous

Querist : Anonymous (Querist)

05 August 2017 I bought property last year for which tds is deducted by me on behalf of seller , . I have got 26QB. Can I claim the amt deducted or seller should claim it? 1.Which ITR is suitable for me as earlier I used to file ITR 1. I have salaried income. Pls help .Very Thanks.

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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05 August 2017 The tds that you have paid is on behalfof the seller and only he can claim it

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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05 August 2017 If you have only one property, you can continue filing ITR 1. if more thannews one property, then ITR 2

Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2017 Thanks a lot Sir for your prompt and accurate reply.