TDS on Sale of Property in case of Joint Owner or Join seller

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When selling a property with joint owners or multiple sellers, TDS is deducted based on each owner's share of the sale consideration, not their initial investment. Each buyer must file Form 26QB for every unique buyer-seller combination related to their share of the property. For instance, one buyer and two sellers would require two separate Form 26QB filings.

Meghna

Meghna (Querist)

25 January 2022 How to deduct TDS .

Buyer Seller Sale consideration
A (Buyer) paid to Husband (Seller) = 10,30,000
A (Buyer) Paid to Wife (Seller) = 9,10,000
B (Buyer) Paid to Wife (Seller) = 60,60,000
80,00,000

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

25 January 2022 Though your query is not clear, but TDS is deducted over the shares of owner/s in property. (not to consider their investment in it).

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

25 January 2022 How will transactions of joint parties (more than one buyer/seller) be filed in Form 26QB?

Online statement cum challan Form/ Form 26QB is to be filled in by each buyer for unique buyer-seller combination for respective share. E.g. in case of one buyer and two sellers, two forms have to be filled in and for two buyers and two seller, four forms have to be filled in for respective property shares.
From:: https://www.tin-nsdl.com/faqs/tds-on-sale-of-property/TDS-FAQ.html

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