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Query in tds on sale of property (joint buyer)

Others 497 views 2 replies
Hi, I and my wife bought a flat from a seller. In the agreement the buyers mentioned are me and my wife. No % as such is defined in the agreement. Majority of the payment has been from my account. So in this case, how should I fill form 26QB? Can I pay the entire TDS from my account?
Replies (2)
Yes you can deduct whole tds if tds is applicable.
But then, suppose I sold one house and bought this house. The consideration for the house I sold is Rs. 1.05cr and the house was in my name. And this house I bought is worth say 1.6 cr but it is in mine and my wife's name. So if I claim the entire TDS then what about the capital gains factor? Coz when the house is in 2 people's name then wouldn't it be 80lacs each. And in that case wouldn't I come under capital gains (1.05cr - 80 lacs)?


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