TDS on sale of property

Hi

Yes, you can deduct TDS under first owner's name only to whom you are making the entire payment.

Is the transaction value above ₹50 lakh, if yes you need to deduct TDS @1% in the name of the person to whom you are going to make payment and since in your case you are going to make payment in name of husband you can deduct 1% TDS in husband's name and you won't be at a fault.

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Thank you

Dear Sir,

Hope you are doing well !!

Yes, you can pay(Buyer) the 1% TDS to Govt & only Seller (first owner) can claim later. 

Yes, you can deduct the tds@1% in husband's name and pay it to government. 

Seller can claim it later while filing ITR.

Hi

 Yes, in thus scenario, one only buyer can deduct tds, and it can be claimed by one seller only. 

Hope it helps 

- Legally, you should deduct TDS in the hands of both the husband and wife as both are co-owners in the property. NOC given by wife can not over ride the law.

Hello,

Actually, you are required to deduct TDS in the name of both the sellers.

But there won't be any problem for you if you make the entire payment in the name of the one seller and deduct TDS of 100% in his name only.

I hope this answer satisfies your requirement.

Regards,

CA Hunny Badlani

In this case, wife is the co-owner for namesake.  The husband is the actual owner of property and the capital gains will be reported in his tax return.  You should make the entire payments to husband and deduct taxes under his name. The seller would claim the TDS by reporting the sale transaction in his return.

This is the usual practice in India whereby the property is jointly owner but the payments are made by single person. For income-tax, one needs to see who is the actual owener of property ie who actually paid the money to buy the property.

You should deduct tax in husband name only.