Adjustment of TDS on Property in ITR by Buyer or Seller?

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  1. drsbpai

    drsbpai New Member

    This is with regard to 1% TDS availed on purchase of house for 50 lakhs and above.
    Can the buyer claim this TDS from the total tax payable on the salary income at the time of filing returns.
    Eg the cost of house is 55 lakhs. The TDS will be 55,000.
    Can the buyer deduct this 55,000 tds paid at the time of buying the house from the total tax payable on the salary income for the assessment year 2017-18. If the total tax payable for from the salary income for the assessment year 2017-18 is 5,00,000 lakhs. Can I deduct 55,000 paid as tds from 5 lakhs?
     
  2. Karan Batra

    Karan Batra Well-Known Member

    The seller will claim this TDS on Property but not the buyer
     
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