TDS on property - Part 1

392 views 3 replies

Hi All

Please let me know the amount of TDS deductible on the following

1. The property value is 1.5crore

2. There are 2 co-owners with 50% share each

3. The payment however would be done from only 1 person in 3 installments

Let me know the amount of TDS and whether both people have to pay or only the person who is making the property payment? Also when is TDS to be paid? It has to be deducted from 1st installment or from remaining installment and how much?

Replies (3)

Here both the purchasers have to deduct TDS of 1% (of each installment value) as and when paid.

SO IF THE FIRST INSTALLMENT IS OF 50LAKHS THEN 25000 EACH CO OWNER HAS TO PAY AS TDS RIGHT?

Yes, only for purpose of TDS deductions. Payment may be given by either or both.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details