Answers On Topic: TDS deducted
Seller has received Advance of Rs.10 Crores from Buyer on 29-03-2025 as advance against supply of goods. On the said sum Buyer has deducted TDS of Rs.95000 u/s 194Q.The said amount of TDS is appearing in 26AS of Buyer. 1-Whether Seller can claim credit for TDS in his ITR for Asst. Year 2025-26 when goods are supplied in next financial year i.e in April 2025. 2-Whether Seller can claim credit for TDS of Rs. 95000 in his ITR for Asst. Year 2025-26 when the whole amount of Advance (net of TDS of Rs. 95000)is returned to Buyer in April 2025…
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I have purchase a under construction apartment from a buyer (second party) at total consideration of 15950000 ( including 662605 GST). In Builder Buyer agreement value of apartment was 13914000 (including 662605 GST) I have paid Rs 8993000 to first party. Balance I will pay to builder in installments. Today I paid 3350000 installment to builder. I need to 1% as TDS on property. My query is what amount I need to put in TOTAL VALUE OF CONSIDERATION (PROPERTY VALUE) while paying TDS on installment amount. Will it be 15950000 OR 13914000 ??
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Form 26QB correction return to be submitted. I have a query regarding tax payment. Additional tax along with Interest, is payable. Please provide me process for the payment of tax and incorporate in correction return.
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My client has purchased a property of Rs. 51,00,000 in December 2023. He deducted tax of Rs.51,000. On making TDS challan payment he found that the seller's PAN is inoperative. He was requesting the seller to get his PAN Operative. Seller's PAN was made operative in July 2025. My client has paid TDS on property of Rs.51,000 (1%) on 16-7-25 and got TDS default demand @ 20% along with huge interest. What is the remedy to save this TDS demand and interest?
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Tax deducted on sale of property, but not deposited in government treasury by Assessee, now case was selected in Scrutiny. How AO will get this information and how he will react on this.
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Sir, A Doctor (landlord) has rented out their hospital premises to another doctor (tenant), who provides healthcare services there. The tenant doctor earned ₹40 lakhs from a healthcare trust for medical services rendered, but the payment was mistakenly credited to the landlord doctor’s bank account. TDS under Section 194J was deducted, and this amount is now showing in the landlord doctor’s AIS (Annual Information Statement), linked to their PAN. The healthcare trust has stated that it cannot change the PAN or reissue the TDS certificate. For income tax compliance, how should the ₹40 lakhs be correctly transferred from the landlord…
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Tds deducted from bills raised on HAM Project .Bills debited to w i p account shown in assets side .No sales or revenue receipt is there .Huge amount of tds deducted .whether the Sade tds is required to carry forward to next year till we receive annuity or can be claimed as refund on current assessment year? Or whether assesee can offer the income to the extent of TDS and claim the TDS every year.pl guide .
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Credit of TDS deducted U/S 194Q of I.Tax Act 1961