Correction details in 26 QB for 2 buyer one seller

TDS
1

Hi,
I bought one flat for 76 lakhs. It has two buyer . one me and my wife. I have paid 50 lakhs as one installment.
I filed 26 QB separately. While filing i put tcv as total value of property which was 70 lakh but in total amount paid section i entered complete 50 lakh in both 26 QB.
Now i undertsand that in that section i had to put 25 lakh in both forms and not 50 lakh as we are sharing it 50-50 percent.

I got a demand from income tax for short decution of 25 thousand and one percent interest of 500 rs… I paid intereset thoriugh incometax site.

now i want to file correction request trhough traces site.

When i login i see some options which were disabled while original filing

Need some clarity on following things:

Total Stamp Duty Value of the Property * what should be filled here individually?
Amount on which TDS to be deducted * wht should be filled here individually?

Whether stamp duty value is higher than sale consideration* what needs to be filled here?

These were disabled in original form.

Also do i need to mention interest also somewhere which i paid?

2

Hey @shrikantgarg17

When filing the correction form, you need to indicate a stamp duty value of INR 25 lakhs for each entry under the section for the amount on which TDS is to be deducted. Additionally, you can select ‘No’ for the question regarding whether the stamp duty value is higher than the sale consideration.

You do not need to include any interest payments while filing the correction return.

1 Like
3

so both entry
Total Stamp Duty Value of the Property – 25 lakh
Amount on which TDS to be deducted - 25 lakh…

in both my and my wife 26QB … correct?

Also , can u please confirm tcv will be complete 76 lakh in both 26 QB and there we dont need to divide it