Form 26QB filing from own IT portal account or wife's IT portal account?


This query is : Resolved 

Quick Summary
This discussion clarifies who should file Form 26QB when a husband makes the payment for a property purchased in his wife's name. The consensus is that the wife, as the property owner, should file Form 26QB. If the tax department queries the source of funds, she can state it was a gift from her husband. The thread also briefly touches upon the requirement for individuals without business income to file balance sheets and profit & loss accounts, with the advice that it's not necessary in such cases.

(Querist)
31 October 2023 Hi Experts, If wife buys a plot on her own name but the cheque payment to builder was was paid by husband. Then will wife file the 26QB (1% TDS) or will Husabnd has to file the same?

31 October 2023 An Individual having Income form all heads of income other than from Business and Profession does he require to file Balance Sheet and Profit and Loss account. for all the investments and incomes


31 October 2023 Lokesh.

Wife has to file 26QB.

31 October 2023 Anjana Shelar.

No need to file balance sheet and profit and loss account in such a case.

Lokesh (Querist)
31 October 2023 Thank you sir, If Wife files Form 26 QB, then will IT dept send notice to her asking source of income, as she is non working

31 October 2023 She can say source is gift from husband.


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