Tds u/s 194-ia : payment of tds on sale of property

Dear All,

A & B (husband-wife) are buying a flat of value exceeding 50Lakhs. Mr. A is paying the amount from his account and B is just a joint owner for legal purposes. In this case, TDS @ 1% is to be deducted by A on full amount or by A/B on 50% of the value each?

In the case, if A & B have paid amounts in the ratio of 60% and 40% respectively then, whether to TDS is to deducted by respective amounts by A & B?

What should be agreement value to be entered in Form 26QB in case we pay TDS separately for A & B? 
 

Replies (1)

In case of multiple buyers, each needs to issue Form 26QB separately. Online statement cum Challan Form/ Form 26QB is to be filled in by each buyer for unique buyer-seller combination for respective share.

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