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TDS on property by NRI
An NRI is purchasing property in India worth Rs.1 crore. His father will be co-owner however 100% contribution will be made by this NRI person. What would be the position in TDS for property? Whether only NRI should deduct or both co-owners? In former circumstance, whether co-owner is required to be mentioned in form 26QB?
Replies (3)
Yes, in form 26QB, you will be required to mention co-owner as property will be registered in name of both of you
But who will deduct tax? Both or only financer i.e. son in this case?
Both of you will deduct the TDS
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