Query on tds on sale of property
Siddharth (Thinker) (267 Points)
17 October 2015Siddharth (Thinker) (267 Points)
17 October 2015
Rashi Bajaj
(CA)
(752 Points)
Replied 17 October 2015
Where joint ownership is taken, ideally tds should be deducted by each payer. However, where the agreement contains name of only one party(you or your wife), TDS should be deducted while making payment from the Specified party's account.
Siddharth
(Thinker)
(267 Points)
Replied 17 October 2015
Rashi Bajaj
(CA)
(752 Points)
Replied 17 October 2015
Miss Rinkal
(Student)
(1304 Points)
Replied 17 October 2015
Yes is agree with Rashi Bajaj completely. In that case, to the extent of the amt paid from wife's account will be treated as a loan taken from wife in your balancesheet