TDS against sale of property
I have sold my flat , me and my wife are the owners of the flat.And the buyers of the flat are two . But while deducting tax only one buyers PAN number and Only one PAN of mine is used for 26QB.Is it ok ?
I don't have any problem and even buyer doesn't have any problem.
Is it ok or will income tax department will issue notice to other buyer.
Asked 7 years ago in Income Tax
Tax amount is 73000 paid through cheque of joint account of buyers.And even part payment of rs 3227000 is done through joint accounts of buyers.rest 40 lakhs they are borrowing loan.
Now one of the buyer is outside India and has given Power of attorney to second buyer regarding bank and property authority. And hence PAN of person who has POA and my PAN is used for TDS purposes.
I am the co-owner along with my my wife.I will bear the capital gain alone.
So please guide.If TDS is wrongly filled then can it be revised
Asked 7 years ago