2 buyers and 1 seller - TDS Payment - Professionals - Taxation - TIK Share
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2 buyers and 1 seller - TDS Payment


harsha doshi

2016-04-05

My husband and I have recently bought a flat which is under construction.  We have been deducting TDS upon making the installment payments.  The TDS deducted has been paid using 26QB.  Since I am the first name on the flat, I have been filling the 26QB in my name only.  Recently we got a letter from the Income tax department saying that my husband has made a purchase of a flat and should have deducted TDS.  We only put my name in the 26QB but have been deducting the full TDS due.

Should my husband have also been filling out the 26QB form?  If yes, do we split the TDS amont between the two of us?  How do we resolve the query from the Income Tax Dept?

 

Thanks

 

Harsha

CA Pulkit Sharma

2016-04-09

Income Tax department has clarified this issue. In case of multiple buyers or multiple seller, form 26QB should be filed seperatly for each party.

In your case your husband and you should deduct amount seperatly and file return seperatly.

The best solution in your case is, if there is pending TDS liability in your account settle with earlier filed forms, and your husband can file returns seperatly.

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