This discussion clarifies the implications of Section 26QB for property sales involving two sellers. It addresses how the total sale consideration is divided between sellers when the overall amount is ₹1 crore, confirming each seller's portion is ₹50 lacs. It also advises on declaring the payment as a lump sum rather than instalments when both sellers receive their share simultaneously.
03 February 2021
For two sellers 1. If total consideration is one crore, will total value for each form be 50 lacs or 1 crore, in each form. 2 should one fill lumpsum or installments, if both sellers are paid 50 lacs each at the same time.