TDS deduction and sale deed in separate financial years
This query is : Resolved
19 July 2022
The entire amount of TDS has been deducted and paid in March 2022. However sale deed was signed in April 2022. In which year do we show capital gain income? Is it possible to claim the refund for the extra amount of TDS in the current AY?
19 July 2022
Any property transaction?
In form 26QB the details would have been filled, follow it.
Excess TDS paid would not be able to get refunded.
In form 26QB the details would have been filled, follow it.
Excess TDS paid would not be able to get refunded.
20 July 2022
Yes. Just a normal property sale.
As per form 26QB, transaction date is 31/3/22. However the possession was given in FY 22-23, and the payments also were received, and the sale deed was signed in FY 22-23
As per form 26QB, transaction date is 31/3/22. However the possession was given in FY 22-23, and the payments also were received, and the sale deed was signed in FY 22-23
20 July 2022
Whether any part payment was received in FY 2021-22 or any agreement was made in FY 2021-22?
If yes, then TDS will be deducted in FY 2021-22 otherwise in FY 2022-23
If yes, then TDS will be deducted in FY 2021-22 otherwise in FY 2022-23
20 July 2022
As said earlier, based on total payment receipts in FY 2021-22, the TDS will reflect in same year. So, consider the transaction for AY 2022-23.
20 July 2022
Just the token amount was paid in march. Rest of the amount was paid post April. There was no agreement of sale
The TDS on the entire sales consideration however was paid in march
The TDS on the entire sales consideration however was paid in march
20 July 2022
In that case consider the token amount as advance in FY 2021-22, while complete transaction in FY 2022-23.
21 July 2022
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