Form 26QB filing from own IT portal account or wife's IT portal account

Hi Experts, If wife buys a plot on her own name but the cheque payment to builder was was paid by husband. Then will wife file the 26QB (1% TDS) or will Husabnd has to file the same?

 

Replies (9)
Quick Summary
This discussion explores who should file Form 26QB (TDS on property purchase) when a wife buys a plot in her name, but her husband makes the payment. Experts advise that while the wife technically files, potential tax scrutiny may arise if she's non-earning. To avoid issues, it's suggested the husband register the property in his name or the wife can declare gifts from her husband. The key is to establish a clear money trail to satisfy the Income Tax Department during future property sales.

Wife............. ............. of course................ .......

 

Thank you Mr. Narendra for answering the question. I have a follow up question, because wife is non earning so if she files the form 26QB then IT dept can ask that since there is no income for wife how she is paying large amount for purchase?

Then buy in your name to avoid the practical issues

Thank you Mr Eswar. I have asked the question from post purchase perspective. I would appreciate your insights on what IT rules say in such cases
 

Originally posted by : Lokesh
Thank you Mr. Narendra for answering the question. I have a follow up question, because wife is non earning so if she files the form 26QB then IT dept can ask that since there is no income for wife how she is paying large amount for purchase?

Most Welcome Dear Lokesh,

   There are two options , either husband should register such property on his name or even ,wife can also show gifts taken from husband & registered property under her name.

Husband income and property buying in wife's name comes under tax avoidance . It may caught by risk management scrutiny on sale of the property in future
Originally posted by : Eswar Reddy S
Husband income and property buying in wife's name comes under tax avoidance . It may caught by risk management scrutiny on sale of the property in future

oh. I thought this is common in our country. During sale what are the things to follow to ensure there is no issue?

If Income Tax Department ask for source of income to buy property?

What and all procedures you followed

got it. Basically the seller should be able to establish the chain of money flow. Thank you!

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