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TOPIC: Query on TDS on sale of property

Query on TDS on sale of property 1 year 9 months ago #7692

Myself Sushant Chalke, I'm buying a property where me and my wife are joint owner for property.
Similarly the seller are also a joint owner (Wife and Husband) too, Here in seller case wife is a first owner and husband is second. I have made all the payment to seller on her wife name as she was a first owner of property. Now seller wants me to file a TDS on this name i.e. husband name who is second/joint owner of property. Can you guide me if I can do what seller is asking?
Will it be fine if I pay the TDS amount on Husbands Name who is second and joint owner of property.
Kindly Suggest, As I would appreciate your prompt response on this.
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Query on TDS on sale of property 1 year 9 months ago #7694

Hi Sushant,

Is the wife of the seller who is listed as primary owner earning out if she dependent on her husband. It she is an earning member, I believe giving TDS in her name would be better.

Thanks and regards,
Krish
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Query on TDS on sale of property 1 year 9 months ago #7827

Question posted by Subhendu in the following link:

www.indiarealestateforums.com/6868-subhendu-mohapatra/profile
Hi,
Could someone please let me know how the sale consideration is determined for the TDS deduction by buyer of real estate property over 50 Lakh. I am seeing the following charges for under construction property in Bangalore. I am thinking sales consideration is only #1 below. Please, let me know if my assumption is right.
1. Sale Value including Car Park, 2. Bescom & Bwssb Chags, 3. Generator Charges, 4. Khata & Bifercation Charges, 5. Sinking Fund, 6. Adv Maint Charges, 7. VAT, 8. Service Tax
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Query on TDS on sale of property 1 year 9 months ago #7828

Hi Shubhendu,

I believe the TDS. needs to be paid only on total sale consideration. That would only include 1) in the list.

Thanks and regards,
Krish
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