08 May 2023
Mother & daughter hold a flat in their joint names, first name is mother and the second name is daughter. Mother paid for the flat in full and no part of the flat price was paid by daughter. In such a case who is liable to I Tax in case of sale to another joint holders, husband and wife. Who is liable to make the TDS payment and to whose credit the TDS should be paid.
08 May 2023
Purchasers should deduct TDS on the payments made to seller mother daughter duo, as per their shares in the purchased property. Seller will be liable for capital gains tax in equal ratio, unless any other ratio specified in their purchase agreement..
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