Good afternoon,
I am planning to sell my flat. As a part of the process, buyer will deduct 1% TDS on the agreement value.
I will be buying another property basis proceeds from the sale.
Can I recover/reclaim the TDS deducted for the sale of my current property? if yes, how?
Kindly help
TDS deduction would be required if your sale proceeds exceeds 50lacs and a no agricultural property.
TDS deducted could be claimed while filling of your ITR no sooner than that
CAclubindia
