06 May 2024
Dear Sir/Madam, I have two queries for FORM 26QB - Total value of consideration for 2 Buyers ( husband & wife) and one seller. The Total Consideration given by builder is 64,92,000. We both are paying 50% each through installments , means 3246000 from my side and from wife side. 1st Query is while filling separate form26QB(s) , for the field "Total Value of Consideration (Property Value) *", should each of us enter 64,92,000 every time or 32,46,000 (half of 64,92,000) every time.
2nd Query is when we come to last installment option as YES, and fill in 32,46,000 in the field "Total stamp duty value of the property (C) *" , then it auto populates the field "Amount on which TDS to be deducted (D) *" with whatever is maximum of the ( current Installment + sum of previously paid installments ) or "Total Stamp Duty value of the property" and also showing it disabled whereas we have a very small current last installment left on which TDS is to be deducted and for which we opted yes last installment. We have already paid the 1% TDS on previous installments(considerations) filled in our previous 26QBs separately.
07 May 2024
1. Fifty percent of total value by each purchaser, in your case. 2. It will calculate over last installment, i.e. total value minus earlier paid amount.
CAclubindia
