TDS Deduction incase of Jointly purchasing property woth mither

A great question about TDS deduction on a joint property purchase! TDS Deduction Responsibility The responsibility of TDS deduction lies with the buyer(s) of the property. Since you and your mother are joint owners, you'll need to determine whose PAN to use for TDS deduction. PAN for TDS Deduction In your case:

- You've paid ₹20 lakhs from your account and taken a bank loan for ₹66 lakhs. - Your mother is a housewife and hasn't contributed financially to the purchase. -

 You'll be paying all the EMIs. Considering these factors, you can deduct TDS using your PAN only. TDS Calculation The TDS amount would be 1% of the total transaction value (₹86 lakhs), which is: ₹86,00,000 x 1% = ₹86,000 You'll need to deduct this amount and deposit it with the government using your PAN. No Need for Joint TDS Deduction Since you're the primary buyer and will be paying all the EMIs, there's no need to deduct TDS using both your PAN and your mother's PAN. However, it's always a good idea to consult with a tax expert or chartered accountant to ensure compliance with the latest tax regulations.

Hi Rama,

Is it fine fine if have deducted tds using my PAN and mother mother's PAN both....I.e. 43k and 43k? Although I have made entire payment....but since mother is a joint owner and she has signed on loan paper as well as co-applicant (although she is a housewife).

Please let me know.

Any CA please help with above query.

It is enough to deduct tds in your PAN.

Hi Sowmya,

My CA has deducted tds from My as well mother PAN....is it fine? Will there be any problem?

Please let me know.