How to fill form 26QB for 2 seller and 2 buyers.

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This discussion clarifies how to fill out Form 26QB when a property is jointly owned by two sellers and purchased by two buyers. The total property value, not individual shares, should be used for the 'Total Value of Consideration' and 'Total Stamp Duty Value'. However, for the 'Amount Paid/Credited Currently', use the proportionate share. If warnings appear regarding stamp duty value, adjust it to reflect the proportionate share to avoid discrepancies.

Vineet Bhargava

Vineet Bhargava (Querist)

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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

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.

Vineet Bhargava

Vineet Bhargava (Querist)

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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

30 January 2025 In such a case enter 50 lacs as stamp duty value.

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