Land sold to 3 different buyers

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If a land is sold to 3 different buyers then reporting of "all" 3 along with pan and details is necessary for the return??
Replies (13)

Yes. with their percentage of share in the property.

If assessee has lost both sale and purchase deed copy is there any solution

If assessee can get a copy from purchaser it would be better, otherwise file return with first name.

Check if TDS was deducted by the purchasers?

Not crossing the TDS limit sale value 43 lakhs

As the value is more than 30 lakhs, Sub registrar would have sent the details of the transaction to ITD. So, check the AIS & TIS report for purchasers' details.

There's no information regarding this in AIS TIS except the 54ec capital gains bond which assessee purchased regarding capital gain.

I believe it is because it is sold to 3 buyers which results in amount less than 30lakhs per buyer.

No that is not correct. The value is reported based on registered deal not over purchasers' shares.

Separate Registry is done here i.e 3 different and no such information is there in AIS except purchase of 54EC bonds

In that case you must fill the data for all three registries.

How can you fill single entry when there are three different transfer cases?

You must get the names of all three purchasers with their PANs to report it in Schedule CG.

That's the point I understand this is the only way and if assessee is unable to arrange the copy of sale documents then I have no way to file return.

Well, that is the real story, but based on whatever information you have; file return before 31st. As and when the detailed information is available, you can revise it (till Dec. 2023 without any fine)...

Ask your client to get copies of the sale registries from Sub-registrar office. Being party to the documents he is authorized to get its copies.

Will do the same sir thanks alot for your guidance

Good Luck.                  ...                  


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