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Tds on property which has two sellers

426 views 7 replies

Hi Team. 

I am buying property with sale consideration of 

62Lakhs, two sellers are there as per sale deed

How to pay tds on this situation. Since per head comes around 31 Lakhs we are giving equal dd for each person separately. Do we still need to pay TDS? each person is receiving only 31 Lakh less then 50 means no TDS . Am confused, please help me? 

Replies (7)
yes tds will be attract under section 194 IA , becouse gross value matter.
In this case we have to see gross amount total sale consideration is more than 50 lac sellers will share the consideration in equal proportion in the same way TDS will attract and compulsory need to deduct
nop 50 lakh criteria apply on property not on saller so please deduct tds an ratio of Thier share in property
you have to deduct TDS on 62 lacs.
you have to deduct tds on gross amount of sum
Deduct TDS and pay with correct details of buyers. File TDS return simultaneously
what if more than one purchasers are there?


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