26 July 2016
I have purchased a house above 50lakhs and deducted tds on behalf of seller and deposited to exchequer. form 16B also issued. Same is reflected in 26AS in Part F (tds u/s 194IA on behalf of buyer). I am a salaried individual with no other source of income. My query is whether to file ITR 1 or ITR 2 for the said transaction and secondly whether the same needs to be disclosed anywhere in ITR. No where in return ITR 1 in TDS its been mentioned against form 16B. Pls clarify my query at the earliest.
27 July 2016
You need to file ITR. Since your source of Income is from Salary, it will be ITR1. It's irrelevant from ITR Filing point of view that TDS deposited is showing in 26AS. For further query you may write us to info@wealth4india.com or may call @9266242424. Alternatively may Logon to www.wealth4india.com
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