The
TDS on sale of property in case of joint sellers is applicable if the property value exceeds 50 lakhs. In your case, as you have said, the property value is 70 lakhs and two people held it. You should remember,
the TDS is deducted on the total sale consideration and not based on individual shares. Hence you are required to pay 1% TDS on your 70 lakhs sale consideration.
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Joint Seller - TDS. We are selling a jointly held property in Bangalore for 70Lakhs,(Kaveri valuation - 57Lakhs). Will we need to pay TDS given an individual share of the property is below 50Lakhs?
siddzy
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2023-11-16T08:31:28+00:00 2023-11-16T08:35:36+00:00Comment
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