In below scenario please let me know if TDS is applicable or not.
1. Seller are having Joint ownership.
2. Buyer is also having will have joint agreement in registry.
Total Sales deed value is 70,00,000
Does buyer needs to deduct 1% tds ? Because total amount is more than 50,00,000? Or since its joint ownership, amount is equally divided and hence amount paid to individual is less then 50,00,000. tds will be exumpted?
Also, in case buyer didn't pay tds, what precaution he should take to justify the decision.
And if buyer paid tds, is there a way seller can return file the tds amount since he never got amount more than 50,00,000 ???