Hi
Bought a property jointly (me and my wife). 10 installments all total...2 buyers 1 seller
How many Forms 26QB has to be filled in total?
Regards
Roy
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How many forms 26QB to be filled?
Replies (9)
Quick Summary
The form filled up by each unique buyer and seller combination for their respective share
three form you fill
three form you fill
so for 10 installments...I have to fill 3 forms? all total 2 buyers and 1 seller
Tax is to be deducted for every installment.i.e 1form 26qb for each transaction.
for a joint buyer...how many forms to be filled for each transaction?
As per your question you are two buyer means two forms then one seller means 1 form
means in total 3 forms
means in total 3 forms
Let me take an example
Installment 1 - Paid 5 lakhs to the seller (TDS becomes Rs 5000)
Buyer 1 to fill Form 26QB and deposit TDS Rs 2500 for Installment 1
Buyer 2 to fill Form 26QB and deposit TDS Rs 2500 for Installment 1
Am I right?
@ nirupam Roy
Yes that is correct
Yes that is correct
Yes you are right
Thanks everyone for your answers. But I am going to ask few more questions to clarify more:
Under-Construction Property Purchased: 2016 Jan
Installments Paid: 9
Installment Due: 1
TDS Deducted by Seller: No
TDS Deposited by me: No
Possession: to be taken this month
If I want to pay TDS today:
1> I have to submit 20 Forms 26QB for 10 installments?
2> Will there be any penalty?
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