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Filling Correct Values in 26QB

03 May 2023

The form 26QB requires property value to be reported. We have bought an under construction property with payments in installments. I have 2 querrys on reporting the property value:

1. Should the total property value include GST

2. The agreement includes payments for club, advance maintenance, legal fee etc. Are these to be included while reporting total value

Appreciate guidance and clarification.

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160396 Points)
Replied 03 May 2023

1. No GST to be added.

2. All other charges to be included except advances.

2 Like

rajiv lal (3 Points)
Replied 11 May 2023

Thank you for your response. Some further doubts:

1. There are 2 buyers with 50% ownership each. The property value is 2 Cr. So in reporting the total value, we fill 2 cr as total property value in the forms of the two buyers - as the form does not specify reporting proportionate purchase value

2. in case of payments by installments, while filling the 26QB for the last installment it asks for proprtionate stamp duty value. What is the stamp duty value? Is this the value on which the stamp duty was paid OR is it the property value as based on circle rate. (please note that stamp duty is payable on higher of agreement value or circle rate value)