Home |Income Tax | We are purchasing 2 adjacent lands registered in name of husband and wife. We are 3 buyers and SR value of site#1 is 40L and site#2 is 35L. Should we deduct TDS while paying to the seller?

We are purchasing 2 adjacent lands registered in name of husband and wife. We are 3 buyers and SR value of site#1 is 40L and site#2 is 35L. Should we deduct TDS while paying to the seller?

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Subin VR Subin VR, Chartered Accountant,FCA, DISA (ICAI) verified
Answered on November 04,2021

If it is done through one document TDS will be applicable

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Shyamal Modi Shyamal Modi, Tax Advocate | Financial Advisor | Virtual CFO verified
Answered on November 08,2021

TDS shall not be applicable if the share of the individual buyer doesn't exceed Rs. 50 Lakhs even if sale done through a single document. 

There is a Delhi ITAT caselaw supporting this.

But many times it is advised to deduct TDS to avoid future litigations!

Do contact me in case of any queries:

Whatsapp: +91 90333 77645

Regards!

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