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Tds on property

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 July 2016 Dear Sir,
Suppose, cost of a property is Rs. 55 lacs and it would be purchased by two relatives. Then tds on purchase of property would be applicale
or
not, as it is being purchased by two individuals?
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Kaushik Joshi

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Kaushik Joshi (Expert)
08 July 2016 Dear Anonymous, yes since agreement cost is more than Rs 50 lacs you'll need to deduct tds. both relatives will proportionately deduct according to their share.
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Amol S Joglekar

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Amol S Joglekar (Expert)
08 July 2016 TDS is very much applicable. It is per property and not per joint owner
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