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
NIRUPAM ROY (TAXPAYER) (33 Points)
09 October 2020Hi
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
ayusmita
(Tax consultant)
(5885 Points)
Replied 09 October 2020
NIRUPAM ROY
(TAXPAYER)
(33 Points)
Replied 09 October 2020
so for 10 installments...I have to fill 3 forms? all total 2 buyers and 1 seller
Amit Khare
(204 Points)
Replied 09 October 2020
NIRUPAM ROY
(TAXPAYER)
(33 Points)
Replied 09 October 2020
for a joint buyer...how many forms to be filled for each transaction?
ayusmita
(Tax consultant)
(5885 Points)
Replied 09 October 2020
NIRUPAM ROY
(TAXPAYER)
(33 Points)
Replied 09 October 2020
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
(TAXPAYER)
(33 Points)
Replied 09 October 2020
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?
CAclubindia
