TDS ON PROPERTY PURCHASES BY JOINT OWNER - 26QB
This query is : Resolved
manoj sonalkar
(Querist)
07 December 2019
Sir/Madam,
How should form 26QB be filled in the case of a joint ownership property.
One of the tax expert advice me that for each buyer a separate Form 26QB is to be filed thus say A & B purchases property from X , in that case 2 Form 26QB to be filed - Buyer A - Seller X for part of the sale consideration & Buyer B - Seller X for remaining part of the sale consideration.
Is the view correct , pl advice.
How should form 26QB be filled in the case of a joint ownership property.
One of the tax expert advice me that for each buyer a separate Form 26QB is to be filed thus say A & B purchases property from X , in that case 2 Form 26QB to be filed - Buyer A - Seller X for part of the sale consideration & Buyer B - Seller X for remaining part of the sale consideration.
Is the view correct , pl advice.
Ayush Agrawal
(Expert)
07 December 2019
Yes, two form 26QB is to be filled with respect of each individual transactions and form 16 B "TDS Certificate" will also be downloaded from www.tdscpc.gov.in for each transactions
07 December 2019
As advised , you have to file separately
manoj sonalkar
(Querist)
09 December 2019
Thanks , what if Husband & Wife purchases House from a Builder cost of which is Rs.1.50 cr.
Should they give two separate Form 16 B to Builder or any one of them can apply.
Should they give two separate Form 16 B to Builder or any one of them can apply.
Ayush Agrawal
(Expert)
09 December 2019
Two separate forms would be required
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