Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170796 Points)
Replied 17 July 2018
Actual reporting of any property/asset is required after getting its possession. In transition /construction period, it is just current asset worth actual payment made (after deducting loans over it)
No need to worry for pre-interest paid over loan, as you will get interest certificate from your bank (at year end), which is sufficient proof for your future claims.
Keep records of 26QB payment receipts, for any query raised in future by ITD.
Rohit
(Tp)
(18 Points)
Replied 17 July 2018
One more query - TDS 1% which I have paid on property and is getting reflected in my 26 AS (PART F - Details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA/ TDS ) . Do I need to mention this anywhere in ITR2 ?
Regards,
Rohit
(Tp)
(18 Points)
Replied 17 July 2018
Hi Dheeraj ,
One more query - I have paid 1% TDS on UC propery purchase and same is getting reflected in my form 26 AS (PART F - Details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA/ TDS). Do I need to put it in ITR 2?
Rergards
Rohit
(Tp)
(18 Points)
Replied 17 July 2018
Hi Dheeraj ,
One more query - I have paid 1% TDS on UC propery purchase and same is getting reflected in my form 26 AS (PART F - Details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA/ TDS). Do I need to put it in ITR 2?
Rergards
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170796 Points)
Replied 17 July 2018
No. That is just for your records. Actually, the seller will enter the TDS amount in his ITR and claim it.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
