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Tds on property
Hello sir
My client had purchased a property on 28th July 2016 and the property was purchased in 2 names.Also the sellers were in 2 names.The sale consideration was 58,35,000/- and after TDS of 1%,57,76,650 was paid to sellers on 28th July 2016.Now my questio n is:
1.How many Form 26QB are to be filed?
2.In Form 26QB, there is an option in Tax Deposit Details regarding the Total amount paid/credited and hence in the column of Total amount paid /credited -whether amount to be entered has be with TDS or without TDS..?
Replies (4)
1. Two for each buyer, means totally Four.
2. Total amount payable by each to the seller, before deduction of TDS.
Thnks sir and what would be the amount to be entered in Total value of consideration?
Total value of the property (purchase value or sale deed value)
r u cs from kol
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