I sale a property which is on joint name
This query is : Resolved
Abhishek jain
(Querist)
31 August 2018
i sale a property at rs 1 crore which is on joint name but the buyer deduct the TDS amount from a single name. now what we can do ?
1) if the TDS amount deduct from a single name is Rs 10lakh ( 1% on 1 crore).
or
2) if the TDS amount deduct from a single name is Rs 5 lakh (1% on 50 lakh)
what to do in both cases
1) if the TDS amount deduct from a single name is Rs 10lakh ( 1% on 1 crore).
or
2) if the TDS amount deduct from a single name is Rs 5 lakh (1% on 50 lakh)
what to do in both cases
Girish Aradhya
(Expert)
31 August 2018
1) The individual can declare Capital Gains to his account fully and adjust the TDS fully.
or Both can individually declare their share of capital gains in the agreed proportion and can adjust TDS only with the individual in whose name IT was deducted.
2) Both can individually declare their share of capital gains and claim their respective TDS.
or Both can individually declare their share of capital gains in the agreed proportion and can adjust TDS only with the individual in whose name IT was deducted.
2) Both can individually declare their share of capital gains and claim their respective TDS.
Abhishek jain
(Querist)
31 August 2018
1) But in such case i cant availed the benefit of exemption limit in case of capital gain.
or
should i told to buyer to revise the tds 26QB ?
or
should i told to buyer to revise the tds 26QB ?
03 November 2021
Second option is better, provided the sale document authenticate it.
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