We have purchase a property with two buyer.
All the payment are made from first owner account only.
And also we are paying in installment and not lumpsum.
so now how I file Form 26QB as the value of my property is more then ₹50lakhs.
Will I need to file 2 Form 26QB evertime or I can file in one go. with one time Form.
Give me proper guidance so I can proceed accordingly.
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Filing of Form 26QB
Replies (5)
The Form 26QB challan has to be filled by each buyer for every unique buyer-seller combination for their respective share. For example, in case of one buyer and two sellers, two forms have to be filled in. Similarly, if there are two buyers and two sellers, then four forms will have to be filled in.
Refer::: TDS_on_property_etax
But there is no share decided by the buyer then also 2 forms has to file.
Better to decide some percentage, otherwise take it as 50:50; but if you wish to include second person in the agreement, it is advisable. Though you will not be penalized otherwise.
Thank you very much
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