Full tds paid by buyer

it is immovable property

If TDS done then there is nothing wrong. Only thing is the threshold limit has been considered while making such TDS.

If TDS has been made and deposited then It will be in the credit of the assesse's PAN only. It will be reflected in 26AS of the assessee.

How many Buyers are there? Is it a joint purchase? Also how many Sellers - Individual Seller or Jointly owned property? Please provide complete details.

Normally in case of Joint Property Purchase, only 1 buyer deduct and deposit TDS u/s 194IA. The right way is that each buyer has to deduct TDS separately and deposit in proportion of ownership in property. In case of Joint Purchase i.e. 2 buyers and 2 sellers. For each installment, each buyer will submit 2 challans i.e. one each for each seller. Common misconception is that Husband can deposit on wife’s behalf and vice versa. It is not true. Another common reason given is that either of spouse does not have PAN. In this case, it is advisable to apply for PAN before joint property purchase. 

Mitesh
Practising CA 

If you need further clarification regarding TDS on Property. Please contact us 

M N and Associates Chartered Accountant CA

100 Divya Gunjan, Bandar Pakhadi Road, Kandivali West, Mumbai, Maharashtra 400067

Phone : 090825 14106