Query of immovable property for tds deduction

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  1. mayur padmani

    mayur padmani New Member

    Hello sir,

    i have query in respect of purchase of property more than value of rs.50 lacs. i am mention below details:

    purchase year ;2014-15
    purchase consideration :Rs.16931430
    payment installment: 5 seller
    1)mr x - 2821905
    2) mr y-282905
    3) mr z-940635
    4) mr a-940635
    5) mr b-940635

    land purchase is two joint name and payment made by 1st holder.
    how much deduct tds ?
    how much form file of 26qb?
    how much interest payable?
    please how to deal that problem?
    please ASAP possible rly
  2. Rk.kottura

    Rk.kottura New Member

    Hi. you need not file E-tds return for this. you directly deduct TDS and update TDSCPC website their details. u will generate Form16B
  3. sai tejesh(ca.final)

    sai tejesh(ca.final) Active Member

    If all the sellers are different owners of property i.e none of them are join owners with another & cosideration paid to one individual seller is less than 50L,then you are not required to deduct TDS.
    otherwise if any of them are join owners with another and consideration exceeds 50L,then you have to deduct TDS.
    It depends on facts of the case,to resolve your remaining queries.
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