1% TDS on sale of property , two sellers, one buyer

Please incorporate this fact in the agreement in that case. So that you are safe.

Rgds
CA. Raj Doshi
R C D & Co.
Chartered Accountants
Kandivali West,Mumbai

• Sale of immovable property under Section 194-IA- It is proposed to amend the amount on which TDS should be deducted. The person buying the property should deduct tax at 1% on the sum paid/credited or the stamp duty value of such property, whichever is higher.

Since your deducting on property, it should create any problems

Dr, property

Cr. seller name

only thing it states is tds at the time of credit or payment which is earlier

Originally posted by : Sharath chandra
	Can't do that. you have to do to both of them equally. or as per their ratio of ownership.

I have conveyed to the seller the same and he talked to his CA. His response was as follows.

The entire amount was paid off by his wife (through her loan and earnings) only. So 1% TDS can be paid only on her wife's name. Can you please advise? Thanks.