In case of Form 26QB, Property total sales price 1 crore, if there is two purchaser in equal proportion 50 lac each. In third page of 26qb form in income tax portal in the column of TOTAL VALUE OF CONSIDERATION OF PROPERTY – what figure will be shown for each partner 1 crore (Full Value) or only 50 Lacs (Each partner share)
PLEASE ADVISE
When filing Form 26QB for joint property buyers, each buyer must file a separate form. The "Total Value of Consideration" field must reflect the entire property value (₹1 Crore), while the "Amount Paid/Credited" field should reflect the individual buyer's proportionate share (₹50 Lakhs), upon which the 1% TDS is calculated.
Sir thanks for reply and I am also think the same. But most of the professional advise to show in field of TOTAL VALUE CONSIDERATION OF THE PROPERTY - to be shown according to the sharing amount between partner - in above case the amount will be 50 Lacs. And the same was smoothly process by Department.
More views are welcome
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