TDS on sale of property
This query is : Resolved
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Rajinder Kapoor
(Querist)
28 August 2020
Hello Sir. I hv a property which is jointly held by my wife and my sister in law. We have finalised the deal to sell it. My question is : Suppose if total TDS amount which is expected to be deducted by the buyer is 1 lakh, then should we request the buyer to issue TDS CERTIFICATE of Rs. 50K to each of the individual name of two of us....or let the buyer issue one consolidated TDS Certificate of 1 lakh but then we each need to claim for TDS of 50K in our Tax returns. Please guide. Thanks.
29 August 2020
Separate TDS certificate needed for each co-owner.
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Rajinder Kapoor
(Querist)
31 August 2020
Thank you so much for your quick answer to my query. Regards
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