← Latest news 
Seller lost Rs 21 lakh TDS over buyer mistake ITAT Delhi allowed Form 71 credit relief
Economy
Published on 24 April 2026
The buyer put the TDS in the wrong year
An ITAT Delhi order gave relief to a property seller who lost Rs 21 lakh TDS because the buyer deposited it in the wrong tax year. The Income Tax Department denied the credit, but the tribunal held that capital gains are taxed in the year of transfer and allowed the seller to claim credit using Form 71.
- Buyer deposited TDS in the wrong tax year, costing Rs 21 lakh credit
- Department denied the seller’s TDS credit claim
- ITAT ruled capital gains taxed in transfer year
- Form 71 enabled the seller to recover the TDS credit
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times