Form no. 26qb
This query is : Resolved
R.K. Shukla
(Querist)
01 June 2014
Sir,
How to fill form 26QB and pay TDS u/s 194IA in the cases where the number of sellers and purchasers of property is more than one ? One example Joint sellers A, B and C.
Joint purchasers X, Y and Z.
Sale consideration of property 20000000
In this case, what will be the position of sale consideration is 10000000.
This is very urgent.
How to fill form 26QB and pay TDS u/s 194IA in the cases where the number of sellers and purchasers of property is more than one ? One example Joint sellers A, B and C.
Joint purchasers X, Y and Z.
Sale consideration of property 20000000
In this case, what will be the position of sale consideration is 10000000.
This is very urgent.
Nikhil Kaushik
(Expert)
02 June 2014
as long as overall consideration is in excess of Rs 50 lakhs, 194-IA will apply.
the best way out is for each purchaser to file separate 26QB for each seller.
the best way out is for each purchaser to file separate 26QB for each seller.
R.K. Shukla
(Querist)
03 June 2014
Thanx for prompt reply Nikhil. However, there will still arise controversies when the shares of purchasers and/or sellers are not determinate in the sale deed, when either some of the sellers or purchasers have no PAN being housewives having got the property sold in inheritance, gift or will or for some other reason may be due not having any source of income.
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