TDS PURCHASE OF PROPERTY JOINTLY


This query is : Resolved 

Quick Summary
When a husband and wife jointly purchase a property, but the husband pays the full consideration, questions arise about TDS deduction and filing. While the husband made the payment, Section 194-IA states both purchasers are liable for deducting tax. Therefore, the husband is responsible for deducting TDS and filing Form 26QB for the entire transaction.

11 May 2020 Husband and wife are purchaser of property named in agreement from builder.Consideration pd by husband. TDS tobe deducted by both separately or by husband only? and file 26Q by husbsnd only?

11 May 2020 If whole payment if made by husband then only husband is required to deduct TDS and file 26QB.

12 May 2020 As per section 194-IA both are liable to deduct tax.
CA Manoj Gupta
Jodhpur
9828510543


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