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If 2 seller sells residential property to 2 buyer, how to show in itr-2 details of buyer?

Nitin Gupta (Article assistant) (37 Points)

23 July 2019

DEAR ALL,

PLEASE SUGGEST HOE TO SHOW THE DETAILS OF BUYER IF 2 SELLER SELLS THE RESIDENTIAL PROPERTY TO 2 BUYER? IN WHICH 1 SELLER RECEIVED AMOUNT FROM 1 PARTICULAR BUYER AND ANOTHER SELLER RECEIVED FROM SECOND ONE? THE REGISTRATION HAS BEEN MADE VIDE ONLY ONE SINGLE SALE DEED.

FOR EXAMPLE:- 2 SELLERS HAVING EQUAL SHARE SELLS RESIDENTIAL PROPERTY IN RS. 1,00,000/- TO 2 BUYERS WITH EQUAL SHARE.

IN WHICH 1 SELLER RECEIVED AMOUNT FROM 1 PARTICULAR BUYER AND ANOTHER SELLER RECEIVED FROM SECOND ONE.

EITHER ONE SELLER SHOW THE DETAILS OF BOTH BUYER WITH RS. 100000/- OR THE 50%-50% AMOUNT SHOW WITH BOTH THE BUYER EQUAL SHARE WHILE FILLING ITR-2?

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177754 Points)
Replied 24 July 2019

50-50 % of both the buyers.

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Nitin Gupta (Article assistant) (37 Points)
Replied 24 July 2019

you mean that both the sellers show the details of both the buyer in 50%-50% ratio of amount received.

Nitin Gupta (Article assistant) (37 Points)
Replied 24 July 2019

Hi, we sold a joint property (along with my wife) to another couple. The TDS of 1% was deducted. Buyer1 deducted from seller 1 (1% of 50% share) and Buyer 2 deducted from seller 2 (1% of 50% share). So instead of 4 challans, only 2 were used. With this both me and wife are getting the needed tax credit and buyers have also deposited 1% in total. While filling ITR2 under capital gains, its asking for buyers name. Should me and my wife put both the buyers name OR should I put buyer1 (who deducted my TDS) and wife puts buyer2 ? In the 26AS we see only one buyer (I see buyer1 and my wife 26AS shows buyer2).

Thanks for your help

Prem Ratnani (GM) (22 Points)
Replied 20 January 2023

Hi. My query is same as already listed.

We sold a joint property (along with my wife) to another couple. The TDS of 1% was deducted. Buyer1 deducted from seller 1 (1% of 50% share) and Buyer 2 deducted from seller 2 (1% of 50% share). So instead of 4 challans, only 2 were used. With this both me and wife are getting the needed tax credit and buyers have also deposited 1% in total. While filling ITR2 under capital gains, its asking for buyers name. Should me and my wife put both the buyers name OR should I put buyer1 (who deducted my TDS) and wife puts buyer2 ? In the 26AS we see only one buyer (I see buyer1 and my wife 26AS shows buyer2). Thanks for your help

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