If a Wife and Husband both contribute towards the Purchase a Flat then TDS u/s 194 IA is to be deducted by Whom?
- Both in their proportionate to their contribution, or
- The Person whose name is First in the Agreement ??
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Tds on purchase of property
Replies (1)
TDS u/s 194-IA is applicable to sale of property whose value exceeds Rs. 50 lacs. The TDS deduction and deposit is based on the deductors PAN no.
Since there are two owners to a property, or two purchasers, form 26QB shall include both the names and their PAN no. Both shall furnish their names and PAN no. in the TDS deduction.
Find the attached form for reference.
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