26 QB - TDS

A husband and wife are jointly purchasing property (mentioned as purchasers in Sale Deed). But only the husband is earning and is in effect paying for the purchase. While deducting TDS from seller, can 26QB be filed for the husband alone, instead of filing two 26QBs both for the husband and wife? The husband is also selling property in which he has 100% share. In the case where two 26QBs are filed, while doing IT filing, for capital gains exemption, can the whole purchase cost be claimed by the husband?

Replies (2)
Quick Summary
This discussion clarifies TDS deduction and 26QB filing when a property is jointly purchased by a husband and wife, but only the husband is making the payment. While the husband can deduct TDS on the full amount, it's advised to file two separate 26QBs, one for each owner, to ensure correct capital gains exemption claims. The husband can claim the entire purchase cost for capital gains exemption only if he has a 100% share; otherwise, it should be proportionate to ownership.

TDS Deduction and 26QB Filing - *Joint Ownership*: When a property is jointly owned by a husband and wife, TDS should be deducted in proportion to their share in the property. However, since the husband is the sole earner and payer, he can deduct TDS on the entire amount. - *Filing 26QB*: It's recommended to file two separate 26QBs, one for each co-owner, to avoid any potential issues with the tax authorities. Although the husband can deduct TDS on the entire amount, filing two 26QBs will help in claiming the proportionate cost of acquisition and capital gains exemption. Capital Gains Exemption - *Claiming Purchase Cost*: For capital gains exemption purposes, the husband can claim the entire purchase cost only if he has a 100% share in the property. In the case of jointly held property, the cost of acquisition will be proportionate to their share in the property. - *Section 54 Exemption*: If the husband is selling a property with a 100% share, he can claim the exemption under Section 54 for investment in a new property, subject to the conditions specified in the section. Recommendations - *File Two 26QBs*: To avoid potential issues, file two separate 26QBs for the husband and wife, reflecting their proportionate share in the property. - *Claim Proportionate Cost*: Claim the proportionate cost of acquisition and capital gains exemption based on the share in the property. -

can 26QB be filed for the husband alone?
No.

can the whole purchase cost be claimed by the husband?
Yes.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
Featured 29 October 2026
Accounts Executive

Synergy Keystone

Chennai

B.Com

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details