TDS on immovable property in case of Joint Owners

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  1. rvis1953

    rvis1953 New Member

    Hello, if a property is registered in both husband and wife's names, how is the 1% tax deducted and deposited? Deposit of 1% by either husband or wife is okay? If so, will it be considered that 1% tax has been paid by both husband and wife in accordance with the rules?
  2. nllohani

    nllohani Member

    TDS on immovable property has to be paid by both the buyers as the property is registered in both of ur name.
  3. rvis1953

    rvis1953 New Member

    Thanks for yiur reply. But I wish the answer is not correct.
    When the seller is just one person and the cost of the flat is fixed, will it not suffice if 1% is paid in total and proof of such payment is shown by the other? The property is one, and only registration is joint.
    I wait for a reply from a tax consultant who deal with such situations.
  4. rvis1953

    rvis1953 New Member

    "You cannot breakup the sale value based on joint ownership of the property. Law provides TDS deduction @1% if the value of the property is Rs 50 lakh or more.

    Either of you can deduct the tds and deposit in Govt. account."

    I saw the above answer in another thread. Probably this answer is applicable to the query I raised. May some one please clarify?
  5. gaurav_kumar

    gaurav_kumar Well-Known Member

    1. TDS would be deducted if the Total Value of Property is more than 50 Lakhs
    2. TDS would be required to be deducted by all the owners
  6. anuragin

    anuragin New Member

    Dear Sir,

    I have a query on TDS on purchase on property in case of joint ownership:

    I had booked a flat in sept 2012 with me and my wife as joint owners. We have been paying 1% TDS in either my name or my wife name depending on from whose account installment is paid to the builder (i.e. only one form 26QB per installment, but with full 1% TDS amount on installment).

    But i heard very recently that Online statement cum challan Form/ Form 26QB is to be filled in by each buyer for unique buyer-seller combination for respective share.

    Wanted to check with you that even in case of husband/wife as co-owners, we need to fill two form 26QB ? If yes, then how this can be corrected i.e. splitting form 26QB between me and my wife for the for TDS already paid.

    Thanks & Regards,

  7. Pratham 31

    Pratham 31 New Member


    I have recently executed an agreement for sale for an under construction property.

    Agreement Value is 7964460
    Owners & co owners: my self (owner) & my maternal grand mother (co owner)

    I would like to ask few queries related to TDS;


    We paid 5710000 so far in installments from Oct 2015 till date. All the payments so far made from my grand mother's account.

    Out of the total cost of property the remaining amount which is payable through home loan and I will be paying EMI for the same.

    Questions on TDS:

    I m aware that TDS needs to be deducted and deposited with govt for each installment/payment made to the builder. The TDS should be deposited by end of next month for the month you have paid the installment. In my case I can deposit till the end of Nov 2016. (Note that they have recently extended the time frame for depositing TDS as per few news publications - however please confirm and let me know)

    1. Would that be file if we pay TDS at the end of this month for the whole installments which we paid in the month of Oct and Nov 2016 or should I paid as per the individual installments?

    2.Since there are 2 buyers and so far all the payments done through my grand mother's account so would that be fine if we shows her name under payees column and when my loan will get disbursed and when I actually need to pay another part of TDS at that time I will show my name in the payees column? Would that be fine? I know all the owners and co owners must pay TDS proportionately. So this condition is also getting satisfied.

    Your help on this is much appreciated.

    Please reply me as soon as possible.

  8. Karan Batra

    Karan Batra Well-Known Member

    Yes, you need to fill 2 form 26QB's.

    But the form is easy to fill. You would be able to do it yourself and it wont take much time.
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