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TDS proportion to be paid for joint property in Husband and wifes name

TDS 704 views 1 replies

We purchased a property in April 2023 on the name of me and my wife. We initially paid the amount of 73 lakhs to the builder after agreement. Payment from my wife's account was 15 lakhs and payment from my account was 58 lakhs. However while paying the TDS we 50% TDS each. can you please advise if this will have any implications?

Also the remaining amount will be paid by Home loan taken from bank for which EMI's are being paid from my Bank account. Can you advise here if the TDS should again be paid 50% by each of us or it will be ok if i pay the TDS from my account based on Bank disbursement installments?

Would really appreciate your comments on my situation.

Thanks,
Rahul

Replies (1)
The first holder will be liable to pay for tds


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