Yesterday, we purchased one residential flat for total consideration of 7912440 Rs.
the builder has asked us to pay 79124 rs via TDS.
Since there are 3 buyers (3 fund contributing buyers) and one seller, three FORM 26QB has to fill.
After selecting "YES" in the section, are there any multiple buyers involved, in what to do next?
Question 1 -
What is required to fill the section of "Total Value of Consideration (Property Value)*" is it 7912440 or 7912440/3 = 26374Rs
What is required to fill in a section of the amount paid/credited? (
is it 7912440 or 7912440/3 = 26374Rs
Question 2 -
Builder is asking entire TDS even though payment will be made in instalments, can we pay the entire TDS to the builder in one go and not at the time of making each instalment payment to the builder? as i don't have any problem paying in one go. (since there is no revenue loss to the govt, assuming they won't be bothered if we pay in one go)
Reply and thanks
CAclubindia
