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I’m an NRI who recently sold a property in India. The buyer deducted TDS from the sale proceeds, but I cannot see the amount reflected in my tax records.
I’m concerned that the buyer may have deducted the money without depositing it with the Income Tax Department.
What happens if the buyer fails to deposit TDS? Can I still claim a refund or tax credit? Also, what steps should I take if the buyer is not responding to my requests?
I would send the buyer a written request asking them to deposit the TDS and complete the required reporting. Keep copies of emails, messages, payment records and the TDS calculation.
If the buyer does not cooperate, consult a chartered accountant or tax lawyer familiar with non-resident property transactions. They can help you determine how to report the transaction and approach the tax authorities.
First, check your Form 26AS or the applicable tax statement and allow for the time needed for the buyer’s payment and reporting to appear.
If the amount is still missing, ask the buyer for the TDS payment challan and the applicable TDS certificate. You should also verify that the buyer used your correct PAN.
If the buyer deducted the money but did not deposit it, that is a compliance issue the buyer needs to address.
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The buyer can face serious consequences for failing to deposit TDS after deducting it, including interest, penalties and potentially prosecution under the applicable law.
Keep your sale agreement, sale deed, bank statement showing the amount received, and any written confirmation that TDS was deducted. These documents may help establish what happened if you need to raise a complaint or seek professional advice.