Tulsi (Student) (22 Points)
24 July 2019Solution required
There is a sale of property for Rs. 80,00,000 and capital gain arises in FY 2019-20. But an advance sum of Rs. 20,00,000 has been received during FY 2018-19 after deducting TDS of Rs.20,000(1%) - Form 26QB is filed.
What to do to claim Credit of TDS of Rs.20000 in AY 19-20 without showing capital gain income in same year i.e. AY 29-20???
SHIRISH S S
(Proprietor)
(1030 Points)
Replied 24 July 2019
Any claims of TDS shall be accompanied by matching income in the same assessing Year. You can choose to C/O the TDS to next AY if the income is received in next FY.
CAclubindia
