• Filling of Form 26QB in case of joint ownership

Me and My wife are joint owners in a property we purchased for 84 lacs, i need to deduct and pay 84000 as TDS on this sale, do we both need to fill the form 26QB as sales value of 42 lacs each and pay 0.5% or only i can pay the entire TDS using my PAN details, my wife is housewife and has no income though she has contributed some amount from her savings
Asked 12 months ago in Property Tax from Bangalore, Karnataka

The person who is going to show the capital gain amount in his/her return if income, should deduct the TDS.

Abhishek Dugar
CA, Mumbai
3576 Answers
162 Consultations

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Hi

TDS is to be deducted on each payment. So, deduct TDS @1% at the time of payment; TDS to be deducted by the person who has made such payments.

Lakshita Bhandari
CA, Mumbai
2254 Answers
81 Consultations

5.0 on 5.0

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