Tds on immovable property

This query is : Resolved

Sangeeta J Janyani (Querist)
Follow

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)
Follow

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)
Follow

29 December 2013 I ll check Form 26QB whether multiple buyer option is there . Thank U

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

30 December 2013 it is there Sangeeta ji :)

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now