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Can we claim refund on TDS deducted?- Property Hotline
Posted
September 29, 2016
Views
2,148
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5
Comments
2
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0.33%
September 29, 2016
2,148
5
2
0.33%
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1:40Now PlayingExpert: Pannkaj Ghadiali, Managing Partner at PC Ghadiali & Company LLP.
Question: I recently sold a flat where I suffered a capital loss of around Rs 2.5 lakh basis the indexed cost. My buyer has deducted Rs 75,000 as TDS on the sale of property and deposited this. I want to know if I can claim refund of this TDS due to capital loss on sales and how it can be done.
Answer: Yes you can claim TDS paid during sale while filing your I-T returns. Only claim it in the same year itself. Also claim refund, only if tax payable is lesser than TDS or is zero.
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