How to fill form 26QB for 2 seller and 2 buyers.
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28 January 2025
Suppose I am purchasing a property which is owned by 2 seller (50% share) and me and my wife are purchasing it (50% share). I understand we have to fill 4 form 26QB. My question is suppose value of property is 1 cr and I pay lump sum amount then what should I fill in these values:
1. Total Value of Consideration (Property Value): There is much confusion about this on internet. In my case would it be 25 lakhs or 1 cr?
2. Amount paid/credited currently (B): Pretty sure it would be 25 lakhs. Let me know if this is not the case.
3. Total stamp duty value of the property (C): Again not sure.
Thanks in advance.
1. Total Value of Consideration (Property Value): There is much confusion about this on internet. In my case would it be 25 lakhs or 1 cr?
2. Amount paid/credited currently (B): Pretty sure it would be 25 lakhs. Let me know if this is not the case.
3. Total stamp duty value of the property (C): Again not sure.
Thanks in advance.
30 January 2025
1 It's 1 crore.
The total value of consideration in Form 26QB for joint property is the entire sale consideration of the property, not each owner's share. It doesn't matter if the ownership is divided - the TDS applies to the total property value if it exceeds Rs. 50 lacs.
2. 25 lacs.
3 It's 1 crore.
The total value of consideration in Form 26QB for joint property is the entire sale consideration of the property, not each owner's share. It doesn't matter if the ownership is divided - the TDS applies to the total property value if it exceeds Rs. 50 lacs.
2. 25 lacs.
3 It's 1 crore.
30 January 2025
Thank you sir, regarding point 3, Total stamp duty value of the property (C), in each form if I put 1 cr then I am getting 2 warnings:
1. Warning : Please enter proportionate share of Stamp Duty Value.
2. Warning : Difference between Amount paid/credited currently (B) and Stamp Duty Value (C) is more than 20%.
Thanks again, Sir.
1. Warning : Please enter proportionate share of Stamp Duty Value.
2. Warning : Difference between Amount paid/credited currently (B) and Stamp Duty Value (C) is more than 20%.
Thanks again, Sir.
30 January 2025
In such a case enter 50 lacs as stamp duty value.
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