Tds on transfer of immovable property sec 194ia

if the payment made to two other parties tds

need to deduct whose payment is more than 5000000/-

since here pan card are 2 

so tds has to be deducted on b only 

Contention of A is not correct as per sec 194IA. If property is jointly held and sale price is more than ₹ 50 lacs then this section will be attracted even if share of all or any of co-owner is less than ₹ 50 lacs.

As per 194IA tds is applicable if consideration exceeds 50lacs irrespective of the share of owners at its individual capacity so In this case TDS is applicable on entire 1cr

Thanks to Mr Ashuthosh and Mubarak

A'contention is correct...because the section says payments made to "a" resident transferor for transfer of any immovable property...so in my view the limit applies to each co owner in this case...50lacs limit has to be seen assessee wise and property wise... TDS shall not be deducted only when consideration is less than 50lacs...So exactly 50lacs is also covered...

I clearly understood the example provided by you Thank you

The threshold limit is mentioned only for the consideration given for the property and not on the consideration given for each individuals. Hence TDS is applicable for every share holder if the consideration for the property exceeds Rs. 50 lakhs.

Please note that the registrar has to file the AIR information for the property which has been registred with him for a value in excess of Rs. 50 Lakhs. You will execute a single document for the total consideration of the property and duly signed by every share holder of the property. Registrar will report this transaction with the details of each property holder. Based on this information the notice will be send to you if you fail to deduct tax on the transaction if the consideration payable for it is excess to Rs. 50 lakhs irrespective of the fact that the share of an individual may be less than Rs.50 Lakhs.