Mr. A(Husband) and Mrs. B(Wife) going to purchase a house with Rs. 80,00,000/-.
The property is co owned(Hunsband & Wife). Mr. A has taken a loan from Bank on this house.
A wants to pay 40,00,000/- to seller
B wants to pay 30,00,000/- to seller
Bank wants to pay 10,00,000/- to seller
1) I know that here tds is applicable. But my question is on which amount tds should be deduct by Mr. A and Mrs. B?
2) Income Tax is liable to pay by seller on the date of Possession. The payment will be done by installment per month(Total 15 months) if the tds should be deduct per month then it will shown in seller 26AS in both financial year. I thing one time deduction is right?
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