Form 26QB filing from own IT portal account or wife's IT portal account?

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This discussion clarifies who should file Form 26QB when a husband makes the payment for a property purchased in his wife's name. The consensus is that the wife, as the property owner, should file Form 26QB. If the tax department queries the source of funds, she can state it was a gift from her husband. The thread also briefly touches upon the requirement for individuals without business income to file balance sheets and profit & loss accounts, with the advice that it's not necessary in such cases.

Lokesh

Lokesh (Querist)
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31 October 2023 Hi Experts, If wife buys a plot on her own name but the cheque payment to builder was was paid by husband. Then will wife file the 26QB (1% TDS) or will Husabnd has to file the same?

Anjana Shelar

Anjana Shelar (Querist)
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31 October 2023 An Individual having Income form all heads of income other than from Business and Profession does he require to file Balance Sheet and Profit and Loss account. for all the investments and incomes