I deal with a person for sale of his property (immovable property) in March 19 for consideration of RS 60 Lacs.. while accepting of Advance money of RS 5 lacs he deduct TDS @ 1% and this TDS is shown in my 26As but sale deed not not executed till March 19.
In actual sale deed is executed on July 19.
My query is that while filing of ITR for. Ay 19-29 (last date 31aug 19). how to show transaction in my ITR.
Please clarify any circular or relevant rule for base
If it was only advance till the end of the year, treat it as advance only, and do not claim TDS in the ITR for AY 2019-20.
The same can be claimed in ITR for AY 2020-21.
CAclubindia
