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Tds against flat purchase
Dear sir,
I have purchased a flat in navi mumbai last year in march 2015 in joint ownershiip with my wife. cost of the property being more than 50 lac, i have deducted 1% TDS and filed Form 26QB last year. last week my wife received mail from tdscpc that she has purchased a property and not filed form 26QB and form 16B. so my query is whether my wife should also furnish the same separately or not. as i have already furnished aall the details on time.
Replies (1)
TDS on Sec 194IA is applicable on Property wise not transfereewise , hence your situation can be solve at the time of filling 26QB , there was an option for transferee where more than one, be sure about that point, comunicate with dept. if you deducted 1% of Property value. If you deducted only your portion of property value then it shoul be rectified.
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