1. TDS of 1% of the official Agreement Sale Value should be deducted from the Buyer, by the Seller whose account is proposed to be credited (Mother).

2.  This should be mentioned in the Sale Agreement.

Keep Smiling .... Hemant Agarwal

1) Mother can save INR 2.80 lacs as tax exempted by filling up form  14 / 15 G.

And it totally depends upon when the property is purchased and what price is currently sold.

Need to check Index value and how amount your mother is going to reinvest in the bond or real estate.

Its totally depends upon them.

1. TDS deduction will be 1% on the value of the property, if the value of the property is RS. 50 Lakhs and above. 1% TDS is as per rule 194 1a of I.T. Act .

2.  Since mother and daughter are joint owners of the property, both have to execute the agreement of sale and absolute sale deed. If the daughter cannot physically attend the registration process, the daughter can execute a Power of Attorney to sign on her behalf, in favour of her mother or anyone, to conclude the deal. In the POA, the daughter can authorise her mother to receive the daughter's share also.

Both mother and daughters are joint owner of property 

2) for sale of daughter share in property  it is mandatory for buyer to deduct 22.66% TDS on the sale price of the property if capital gain is long term capital gain.TDS is deducted on the total Sale Value of the property.

3) for sale of mother share in property 

for indian residents TDS of 1% is deducted on selling price

There will be no TDS upto the sale consideration value of Rs. 50,00,000/-

TDS has to be deducted at 1% from resident Indian sellers if the transaction is more than Rs 50 lakh in value.

If the daughter is a joint owner then she also has to execute the registered sale deed by appearing in person before the sub-registrar's office.

The mother cannot sell the property on her own without the daughter participating in the sale transaction even though the mother fully funded for the purchase of the proeprty.

sale of property exceeding Rs. 50 lakhs in India, a tax of 1% has to be deducted on the total sale consideration before making the payment to the seller. The buyer must then deposit this 1% TDS to the Government.

the regulation mandates that on sale of property exceeding Rs. 50 lakhs in India, a tax of 1% has to be deducted on the total sale consideration before making the payment to the seller.

procedure to deposit TDS

1. Calculate 1% TDS on the total sale consideration. For a property getting sold for Rs. 60 lakhs, the seller would receive Rs.59,40,000 after tax.
2. Make the payment online on Form 26QB. A challan is generated. Note that this must be done within 7 days from the end of the month in which TDS is deducted.
3. The payment is reflected on the seller’s Form 26AS under the head Part F within 7 days.
4. The buyer is then required to furnish a TDS certificate called Form 16B to the seller. This can be downloaded from the TRACES website.

   1. For this, register on the TRACES website with your PAN and challan number.

      1. Click on “Application for request of Form 16B” from the header.
      2.  

If daughter is NRI then for her share it would be 20 perfect and for mother share 1 percent TDS shall be applicable.

TDS deduction from mother's amount

In effect since June 2013, the regulation mandates that on sale of property exceeding Rs. 50 lakhs in India, a tax of 1% has to be deducted on the total sale consideration before making the payment to the seller.

The buyer must then deposit this 1% TDS to the Government. PAN of both the buyer and seller must be compulsorily specified while filling out Form 26QB to ensure that sellers don’t avoid taxes on the capital gains they make.

This rule does not apply on sale of agricultural land.

The buyer has to deduct TDS at 1% of the total sale consideration