Home loan from bank & multiple buyers tds concerns

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Anil (Querist)
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22 June 2016 Hi,

we haven a home loan from bank and we have 2 buyers of that property (banker provided the joint loan ac). banker has paid 5th EMI and asking to pay TDS from our end. In 2 buyers who has to deduct the tds and pay dept.

Rupesh Jain

Rupesh Jain (Expert)
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22 June 2016 if you are buying the property then tds u/s 194ia you have to deduct the tds and deposit by both of you 50%-50%.

Anil

Anil (Querist)
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22 June 2016 2 buyers are me & my spouse. bank made emi of rs.30lakh for the 5 the emi. how could i make the tds payment

Rupesh Jain

Rupesh Jain (Expert)
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22 June 2016 pls tell why bank will pay the EMI.

Rupesh Jain

Rupesh Jain (Expert)
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22 June 2016 if bank make payment on behalf of you then tds responsibility of yours on bank payment date you have to consider for tds payment.

Anil

Anil (Querist)
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22 June 2016 on behalf of us banker made the payment through our loan ac. hence i will divide the total installment payment into 50/50 and i will make the tds payment to dept on our both PAN cards 50/50. is it right or not?

Rupesh Jain

Rupesh Jain (Expert)
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22 June 2016 yes, you have to make payment of tds 50-50% in both a/c.

Anil

Anil (Querist)
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22 June 2016 Thanks, i will deduct tds on 50/50 for both PAN...

Rupesh Jain

Rupesh Jain (Expert)
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22 June 2016 yes , you have to deposit tds on 50-50% amount in your both PAN.

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