Tds payment for under construction resale property
Querist :
Anonymous
(Querist) 20 August 2018
This query is : Resolved
Buyer1 booked the flat in Aug 2016 for 58 lacs from builder in Bangalore (he has sale agreement b/n him and builder), Now flat is ready for registration and buyer1 sold the flat to buyer2 (i.e. me) for 64 lacs (I have sale agreement b/n me and buyer1, I also have Nomination Agreement where buyer1 transferred all his rights of Flat to buyer2 (i.e me), all three parties signed)
1) Buyer1 paid 46 lacs to builder already. Buyer1 had already paid TDS of Rs.51K (i.e. 1% of 51 lacs, No TDS for 7 lacs GST) (In Form 26QB, He mentioned seller as Builder and buyer as Buyer1) 2) Buyer2 will pay 12 lacs to builder 3) Buyer2 will pay 52 lacs to buyer1 My question is, 1) Whether one more Form 26QB should be filled in name of Builder (As Seller) and Me (As Buyer) for the amount Rs.51K? 2) Whether another Form 26QB should be filled in name of Buyer1 (As Seller) and Me (As Buyer) for the amount Rs.64K? 3) Both of above should be done? 4) Or any other ways which accurately covers TDS for both sale considerations i.e. i) b/n buyer1 & builder and ii) b/n buyer1 and buyer2 (i.e.me) Requesting you for support. Thanks.
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