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Property TDS having joint sellers and joint buyers
7 months ago
HI,
We are purchasing a flat having sale consideration of 58.3L. The property is owned by joint owners. They are husband and wife and seller's wife is a house maker. We buyers are also joint owners of property (Husband and Wife and both are working). I need your suggestion on how TDS will be deducted and deposited. Will total TDS be divided into 4 parts. Each buyer will have to submit for both sellers? Need your guidance here..
A.Dear,
Deduct TDS: The TDS should be deducted at the time of making the payment to the seller(s) for the property. Each buyer should deduct TDS separately on their share of the sale consideration. In your case, since both husband and wife are buyers, each of you should deduct TDS on your respective shares.
Regards
Deduct TDS: The TDS should be deducted at the time of making the payment to the seller(s) for the property. Each buyer should deduct TDS separately on their share of the sale consideration. In your case, since both husband and wife are buyers, each of you should deduct TDS on your respective shares.
Regards
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