TDS u/s 194 IA - Practical Queries

This query is : Resolved

CA. Aditya Goel (Querist)
Follow

01 September 2023 Please help with my queries regarding TDS u/s 194IA on purchase of property

1. first payment made on 1st January (booking amount), then 2nd payment made on 8th january (allotment amount), builder buyer agreement is executed on 15th January, in this case what would be date of agreement/booking to be filled in form 26QB.

2. property purchased by husband and wife (both working), but whole payment is made by the husband to the builder, in this case, TDS compliance is on both or only husband?

3. in case both needs to pay the tds then in form 26QB, in total value of consideration, 1 CR to be filled for each or 2 CR each? i think it should be 1Cr (their share) but still double checking as total value of property is 2 CR.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

01 September 2023 1 15th January, in this case would be date of agreement/booking to be filled in form 26QB.
2 On both.
3 1 crore to be filled for each value of payment. For value of the property fill 2 crore.

CA. Aditya Goel

CA. Aditya Goel (Querist)
Follow

04 September 2023 1 - then what should i mention while making the first payment on 1st January? i mean first payment made to the builder for booking/allotment, till this time builder does not provide any agreement
2. I am of the opinion that since 100% payment made by the husband so he is the actual benefical owner and wife's name is just for the sake of it. and hence TDS liability is only on husband - full amount. clubbing provisions will also apply here - do you agree with this?
3. yes, even i am of the same opinion, thanks

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

04 September 2023 No, I don't agree TDS has to be deducted on both claim refund in case of wife's TDS.
Only rental income is clubbed.
Otherwise your wife is co owner of the property.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Vidit Ratanghayra

J.Vijai

mohammad.asraf

sathish kumar k

prakash takane

Subscribe Now

TDS u/s 194 IA - Practical Queries

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Manager- Finance and Compliance

GST CONSULTANCY

GST CONSULTANT

CA Final

Article Assistant