Tds taken by builder
Querist : Anonymous
Please advice on following:
I received my brokerage commission for a new residential deal from a reputed builder. The amount of brokerage was calculated at Rs 5.9 Lacs in January 2012 while I received 10% less amount i.e Rs 5.31 Lacs deducted as TDS on 2 April 2012. This is my only income for the year.
I'm 33 years old, have a pan card but was never on job or business so never filed returns. Now, is there anyway I can claim my remaining balance back ? If so, then how and what do I need from builder and how long will it take to get it back?
Thanks.
Guest
The builder has to provide you the TDS certificate or you can view it online by registering your PAN on income tax site.
Querist : Anonymous
In what case can I be not in tax bracket? I live overseas most of time and hold residency visa.
If your income in more than 2 lacs in FY 2012-13 after deducting expenses to get that commision, you are in tax bracket. You can claim it only after the march 2013.
In case commision is booked by builder in FY 2011-12 & give the TDS certificate of same year you can claim it till March 2013.
Querist : Anonymous
1) After getting Tds what is step by step procedure to claim back?
2) Timeline of refund, approximate
3) what if builder is delaying in giving tds, any other way to procure it?
You should file a IT return to get it back.
Querist : Anonymous
Contract at my mail id, prgupta.ca@gmail.com
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