1 % tds on purchase of property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 March 2018 if we are purchasing a property of Rs 52.00 lakh in joint name. then we have to file 1 % tds on 2 parts with consideration amount 26.00 lakh or we have to file tds on consideration price of 52.00 lakh

question 2) we are applicable for 1 % tds or not ? as we have the property on joint name and when we filing the tds then the amount should be 26.00 lakh on each challan. which is below 50.00 lakh

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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25 March 2018 Firm 26QB you opt more than one buyer sale considerations mention 52 lakhs you can show sale consideration property ornately in terms of numbers and TDS @1% propertionately.