29 June 2014
what is threshold limit if property purchased by co owners to deduct tax on immovable property ?
whether form 26qb submitted by each owner separately or one form is enough for jointly purchased probably.
29 June 2014
the value property is not to be seen separately for each owner but as cumulative. so as long as the value of the property is equal or more than Rs 50,00,000/- 194-ia shall apply, irrespective of number of owners.
it is always advisable to deposit taxes under separate form 26QB for each owner and subsequently Form 16B be issued.
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