TDS ON SALE OF JOINTLY HELD PROPERTY
This query is : Resolved
04 April 2026
INCASE OF LTCG ARISES ON SALE OF IMMOVABLE PROPERTY. IF TOTAL SALE CONSIIDERATION EXCEEDS 50 LACS THAN 1% TDS IS APPLICABLE. BUT IN CASE OF PROEPERTY OWNED BY MORE THAN 1 PERSON i.e. CO OWNERS ARE THEIR THAN INDIVIDUAL SHARES IS LESS THAN 50 LAC THAN 1% TDS IS DEDUCTABLE??
04 April 2026
• Threshold of ₹50 lakh is per co-owner (seller-wise)
• ❌ No TDS if each share < ₹50 lakh
• ✔ TDS applicable if individual share ≥ ₹50 lakh
• ✔ Ensure separate 26QB filings
• ❌ No TDS if each share < ₹50 lakh
• ✔ TDS applicable if individual share ≥ ₹50 lakh
• ✔ Ensure separate 26QB filings
04 April 2026
Yes, Provision for TDS on immovable property by buyer will apply as overall value of property is more than Rs. 50 Lakhs.
This provision is as per Value of property not as per buyer's share.
For better understanding refer Section 194IA of Income Tax Act 1961 (Till 31/03/2026) OR Section 393 of Income Tax Act, 2025 (From 01/04/2026).
This provision is as per Value of property not as per buyer's share.
For better understanding refer Section 194IA of Income Tax Act 1961 (Till 31/03/2026) OR Section 393 of Income Tax Act, 2025 (From 01/04/2026).
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