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TDS 194 IA refund for long term capital loss

mahendra sahoo (Gst Practicion) (700 Points)

08 July 2023

Hi All,
I have one query. One of my client (resident) sale of house property which is more than 50 lac, it was tds deducted 1% by buyer in fy 2021-22. While selling it was long term capital loss. Same also I was filling in ITR 2. Claimed the TDS deduction, but I checked intimation calculation is OK but tds paid column is mismatching. Evenif that tds paid amount is reflecting in 26AS.

pls guide me what to do in this case

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (161157 Points)
Replied 08 July 2023

File rectification request u/s. 154 IT act.

mahendra sahoo (Gst Practicion) (700 Points)
Replied 27 September 2023

Sir 26AS payment figure is sale value where 1% tds deducted, but in ITR ltcg income schedule loss I declared, I checked its income mismatching so pls guide me what I have to do?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (161157 Points)
Replied 01 May 2024

Even if for loss on the sale of property TDS would be deducted by purchaser. You can file ITR and declare the loss. Department will check its authenticity, and refund the excess tax deducted, if any.