For a residential property. The purchase price is 134L. There are 3 buyers and 2 sellers. While filling Form-cum-challan, 26QB in the Income tax portal, should we remit TDS, separately for buyers and sellers respectively? Or can it be mentioned while filing the form that there are multiple buyers and sellers? Also, in this case what do they mean by the total stamp duty value of the property? As they ask me to fill it in proportionate basis. It also shows a warning if there is more than 20% difference between amount credited and stamp duty value. Request you to clarify.
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TDS 194 IA - Residential Property
Replies (1)
Divide the purchase price amongst the buyers as per their share in the property.
Deduction of TDS will be by each buyer as per the shares of each owner in the property value.
The FMV will only differ if the circle rate & purchase rate differs. If its same copy paste the same values as FMV in all the SIX forms.
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