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Section 194ia

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(Querist)
24 February 2015 Dear Sir,

My company purchase a land and consideration exceed 1cr.as per sec 194IA my company need to deduct tax 1%.but seller do all the formalities and they filed return 26QB.TDS amount come under our 26AS. whether my company can claim this?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
24 February 2015 No. Benefit goes to the seller.
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Rupesh Jain

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Rupesh Jain (Expert)
24 February 2015 no you have to deduct the tds then you take benefit.
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