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TDS on immovable property


Divya Priya (student)     17 November 2020

Divya Priya
student 
 11 likes  320 points

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House property purchased by NRi for 9700000. out of this 2000000 advance paid and tds 20000deducted and paid in 22 Mar 2020 .balance 7680000 is to be paid to seller in 26 nov 2020.seller is lady and her husband doesn't exist. She has 1 son and daughter. Son 25 lakh and daughter 25lakh and for wide 47 lakh is splitup amount . How to deduct tds and pay in whose name? fully in wife name or to son and daughter account respectively. please let me know this in detail.
CA ABHAY GUPTA

CA ABHAY GUPTA (Practice)     17 November 2020

CA ABHAY GUPTA
Practice 
 243 likes  2708 points

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In case seller is lady and registry of the title will be done that lady then full tax need to be deducted in hand of lady, the partition of money in her children account is mere process of distribution of fund but for tds purpose and capital gain it is in hand of person who owned the title.
ayusmita

ayusmita (Tax consultant)     17 November 2020

ayusmita
Tax consultant 
 371 likes  5573 points

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The tds is deducted in the hand of the person who sold it

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