Tds on immovable property

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Sangeeta J Janyani (Querist)
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29 December 2013 We have purchased a property of Rs.90,00,000/- Amount is mentioned in Agreement . This is purely consideration for house. Seller is one . As a purchaser my husbands name is mentioned and mine. My husband has paid Rs.80 Lacs and I ll pay Rs.10Lacs. Now my husband has deducted tds of Rs.80 thousand and i have deducted tds rs. 10 thousand. Now how should we fill the form because form asks Value of Property . There we should write Rs.90 Lacs or Rs. 80 lacs in one Form 26QB and Rs. 10 Lacs in another 26QB Form . Please let us know the procedure

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 December 2013 you should write 90 lakhs in total consideration. select multiple buyers. In amount paid, mention separate shares ie 80 lakhs and 10 lakhs.

Sangeeta J Janyani

Sangeeta J Janyani (Querist)
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29 December 2013 I ll check Form 26QB whether multiple buyer option is there . Thank U

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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30 December 2013 it is there Sangeeta ji :)

Nikhil Kaushik

Nikhil Kaushik (Expert)
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30 December 2013 however, you still need to fill TWO form 26QB - one each of each buyer.