Recently I have booked a flat in Kolkata. It is jointly owned by me and my wife. As the consideration amount is above 50 lacs, thus I need to pay TDS for this purchase. We will be paying the property cost in installments for next 3 years. Do we require to pay TDS for each installments ? or should pay TDS for whole amount ? I have paid the first installment on 2nd week of April,2015. What is the due date to pay TDS ? As , me and my wife (single income source) are the joint owners, Do we require to submit separate form 26QB for filing TDS ? Thanks...
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1. If the TDS is being paid in installments, then TDS is to be deducted at the time of each installment paid.
2. for the month of april, he due date to pay TDS is 7th May
3. The flat is in joint name? If the PAN of one buyer is given then only one Form is to be submitted mentioning the ownership being joint.
