I sold my residential property and TDS(10%) deposited by the buyer on 17/10/2024 but no amount of sale of property credited/paid by the buyer to me.
Please let me know, how and when this TDS amount will be reflected in my form 26AS
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TDS on the property sold
Replies (3)
Quick Summary
In about 8/10 working days.
Ask buyer to give you copy of challan
TDS deposited, sale consideration not yet received:
• For a resident seller, 194-IA TDS is 1%. A 10% deduction suggests the buyer treated you as non-resident (Sec 195). Check the deduction section. The TDS credit appears in your 26AS for FY 2024-25.
• Capital gains arise in the year of transfer (registration or possession). If the sale is completed in FY 2024-25, report it then. If the transfer hasn't happened (sale incomplete), the TDS can be carried forward (Rule 37BA(3)) to the year in which the income is assessed.
• Follow up with the buyer for the consideration.
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