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Tds on property which has two sellers

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it
32 Points Posted on 18 August 2019

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? 

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On 18 August 2019 at 06:45 Report
Replies (7)
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25 Points Posted on 18 August 2019
yes tds will be attract under section 194 IA , becouse gross value matter.
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On 18 August 2019 at 06:54
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student
268 Points Posted on 18 August 2019
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
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On 18 August 2019 at 08:52
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intermediate
304 Points Posted on 18 August 2019
nop 50 lakh criteria apply on property not on saller so please deduct tds an ratio of Thier share in property
1 Reply
On 18 August 2019 at 10:11
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9 Points Posted on 18 August 2019
you have to deduct TDS on 62 lacs.
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On 18 August 2019 at 10:22
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27 Points Posted on 18 August 2019
you have to deduct tds on gross amount of sum
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On 18 August 2019 at 12:00
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17264 Points Posted on 18 August 2019
Deduct TDS and pay with correct details of buyers. File TDS return simultaneously
101 Reply
On 18 August 2019 at 15:46
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5 Points Posted on 18 August 2019
what if more than one purchasers are there?
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On 18 August 2019 at 20:21


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