Total Stamp duty value of property FORM 26QB

Dear Madam,

In the reporting form 26QB, the filer has divided Total stamp duty value of the property by 2 to account for 2 buyers. Is this correct?

I think it is correct as at the time of filling out Form 26QB from the Income tax portal, they instructed me to fill in stamp duty value on a proportionate basis.

Total stamp duty value of the property was 73.28L.

This is market value rate also known as ready reckoner rate. Does this value depend on number of buyers? I understand this as erroneous reporting. Property value or ready reckoner/ market value can't be divided by number of buyers in form 26QB. Stamp duty @ 6% is 6.48L which can be proportioned between buyers. Total stamp duty value of the property can't be....or can it?

Seniors please correct me if I am wrong.
 

In the case of joint buyers, the total consideration amount (agreement value) is typically divided equally among them unless there is an explicit agreement stating otherwise. However, the stamp duty value of the property is not necessarily divided equally among the buyers.

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Hello, what if the consideration value differs from the share in property?

Eg. if the buyers are father and son and the father is contributing 60% of funds and the son - 40% , but they have agreed to a 50% share in the property.  

So what would be the consideration and sdv treatment for each buyer ??? 50-50 or 60-40

Please help . Thanks

The consideration value and stamp duty treatment are based on the actual financial contributions. 

Your question is correct- Total stamp duty value of the property should be mentioned on which stamp duty is paid 108L (It should be whichever is higher).

@ Oliver Coelho

Plz note the following [ already mentioned by others separately in the thread]. I am summarizing for easier understanding of all.

1. The sale value would be the Registration Value or Market Value - WHICHEVER IS HIGHER.
2. In case of Joint [ multiple ] purchasers, the TDS must be deducted proportionately to the amount paid by each joint purchaser. Total amount would be as per point 1
3. The 26QB and the Form 16B, from the buyer or buyers, must reflect as per point 2. For joint buyers, there would be multiple 26QB and Form 16B.

Any deviation from the above three points will create issues for you [ and the buyers ]

1st It will not Create issue to seller because seller got consideration amount, TDS Credit also..
2nd i agree with your statement that .... 73.28L Stamp duty value is Wrongly mentioned by buyers.
Buyer may receive intimation from Income tax that he needs to correct it but even he submits correction in 26QB he needs sellers approval digitally.
and this small change will not affect in any demand of interest or penalty to both. becasue Tax is already paid on time and full 1.08L.
Hope this clarifies everything.