TDS during purchse of immovable property


(Querist)
15 September 2019
Hello,

I have purchased an apartment recently and am needed to deduct TDS for the purchase. I have the following queries regarding the form 26QB

1. I have paid earnest money by two cheques disbursed from my account on 16 Aug and 22 Aug. I have not deducted TDS then. Can i deduct TDS on the entire agreement value now in one go or do i need to deduct TDS separately for each of the cheques?
2. As the remaining amount will be disbursed by Bank through Home Loan, I am required to deduct the TDS. The actual amount disbursed by bank will be lower than the remaining amount (agreement value - earnest money), as i will also deduct TDS. So in Form 26QB, which value should I put, Agreement- Earnest money or Agreement-Earnest Money -TDS?
3. As my wife is co applicant in home loan, how do I factor her in in the TDS payment.

Regards


CA R SEETHARAMAN (Expert)


Click to Talk 16 September 2019
1 Deduct TDS on the entire agreement value now in one go.
2 Agreement value.
3 File 26QB in her name also.


Tapash (Querist)
16 September 2019
Thank you.
I will file 26QB in my wife's name also

CA R SEETHARAMAN (Expert)


Click to Talk 16 September 2019
Yes................
.....
.


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