House property

This query is : Resolved

Rajan (Querist)
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05 April 2017 Hello I had a property that was sold last year in October 2016. 1 TDS was deducted from the total sale consideration by the buyer while settling the payment. I calculated the capital gain / less after indexing the cost and concluded their is a capital loss. Do I still need to file a return of capital loss? How should I get the credit of 1 TDS deducted from the sale value from income tax department?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 April 2017 Please file the income tax return to seek the refund of tax deducted by the buyer.

Studentsca

Studentsca (Expert)
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06 April 2017 File your Income Tax Return in or before due date to claim carry forward of loss on account of sale. This will help you to claim set off from capital gains arising in future.

Also you can get refund only if you file your return and claim it in the return.

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