26QB Form - TDS

This query is : Resolved

Jigar Morbia (Querist)
Follow

10 February 2025 I have registered the agreement and paid stamp duty @6% of total consideration = 8,10,000. There are two buyers with 95,00,000 and 40,00,000 contribution.

For First Buyer:
Question-1
"Total value of consideration (property value)" = 95,00,000 [ As per the contribution - Is this correct?]

Question-2
then "Amount paid/credited currently (B)" should be 95,00,000 or 94,05,000 (i.e. amount paid to seller after TDS deduction = 95,00,000 - 1% TDS = 94,05,000)

Question-3
Difference between "Amount paid/credited currently (B)" and "Total Stamp Duty Value of the Property (C)" is greater than 20% i.e. 20.32% and giving warning message. Should I proceed for TDS payment or make C = B?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

10 February 2025 1. Rs. 95 lakhs.
2. If stamp duty value is lesser (or equal to) Rs. 95 Lakhs, then proceed without the correction.

Message likes : 1 times

Jigar Morbia

Jigar Morbia (Querist)
Follow

11 February 2025 Thank you Dhiraj sir for your prompt reply... I did not understand then 2nd one... Stamp Duty value is 7569000 which is lesser than 95 lakhs so in that case what correction I need to make?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

11 February 2025 In that case proceed without considering the warning message.

Message likes : 1 times

Jigar Morbia

Jigar Morbia (Querist)
Follow

12 February 2025 Thank you once again Dhiraj sir for your response... This helps me submitting TDS :)

Message likes : 1 times

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

12 February 2025 You are welcome.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now