Hi everyone,
I'm planning to buy an old house with land for ₹1.15 crore from two joint owners. I'm trying to fill out 26QB forms for both sellers with the following details:
- Property Type: Building
- Total Consideration: ₹1,15,00,000
- Payment Type: Lump Sum
- Higher Stamp Duty: No
- Amount Paid/Credited (B): ₹5,75,000 (each seller)
- Total Stamp Duty (C): ₹5,75,000 (each seller)
- TDS Paid: ₹57,500 (each seller)
Please let me know if I've filled these details correctly for both sellers. I'm paying the money by check and deducting TDS at the time of payment. If the sellers take a week to encash the check, should I enter their share amount in the field (B) of the 26QB form?
Any help or advice would be greatly appreciated. Thanks!
CAclubindia
