18 July 2022
A land was purchased by 5 no.s of the company from 8 nos of landowners, total land value INR 1core 60 lakh- & Market value INR 1 Crore 90 lakh, TDS U/s 194IA deducted at the time of payment of the land cost 1) Are each of the companies required to fill filled 26QB, from 8 nos landlord separately, total 26QB of all companies 8 Nos X5 =40 Nos 26QB required to be filled? as there is more than one buyer & more than one seller of a single land. 2) Is Set forth property value 1 Crore 60 Lakh & Market Value 1 Crose 90 Lakh need to be mentioned in all 26QB of all companies or proportionate property value 1 Crose 60 Lakh/5 & Proportionate market value I crore 90 lakh/5 need to be mentioned in Property & market value field at the time of 26QB filling ?
18 July 2022
1. Correct 40 nos. of form 26QB are to be filled. 2. No division of property value by different purchasers, when single sale deed is made. Declare total cost of full land.
CAclubindia
