Challan 26QB

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pranab sarma (Querist)
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19 June 2023 I purchased an immovable property the value of which is more than 50 lakhs. All payment is done by me (from my savings) and from my bank account. I make my spouse my co-owner and therefore the property will be registered in the name of both. My spouse is housewife and does not have any source of income. My confusion is whether I have to file two 26QB for myself and my spouse or only one 26QB in my name ?
Next if I have to file only one 26QB in my name then how I will answer the question "Whether more than one buyer - Yes/No" while filing 26QB?
Please suggest and thanks ...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 June 2023 The Form 26QB challan has to be filled by each buyer.
Say yes.

pranab sarma

pranab sarma (Querist)
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19 June 2023 Sir, that means I have to file two 26QB for myself and my spouse. As I mentioned earlier my spouse does not pay any amount ; all consideration is paid by me. Then what amount I put in my spouse 26QB ? is it 50% of total consideration ?
Next do IT department will ask where my spouse got money to buy the property ?
Please suggest , thanks .

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 June 2023 Yes, it's 50% of total consideration.
Say you gifted the money to her.

pranab sarma

pranab sarma (Querist)
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19 June 2023 Thank you CA Seetharaman Sir.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 June 2023 You are welcome...
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