Tds on sale of residence flat

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kumudprakash k doshi (Querist)
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03 May 2013 as per new provision of income tax act wef 01/06/2013 1 % TDs will be deducted by the purchaser of property . In case of Joint ownership A holds50: and B holds 50 % share in the property now they want to sale of the same on Rs. 2.00 Crore.so 1 % of this will be Rs. 2.00 lakh will be deducted by the purchaser but how A and B Will claim in their personal return, whether the purchaser will issue two seperate TDS certificate of Rs. 1.00 lakh each or what

Ashish Bansal

Ashish Bansal (Expert)
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04 May 2013 In case, consideration for sale is flowing to both the co-owners, purchaser need to deposit tds in both name and will have to issue tds certificate to each party (Rs. 1 lac each).