There are multieple buyer A, B ,C Agreement value is 2.5 crore . Single resident seller . Ready reconer value of property is 1.8 crores. stamp duty paid on 2.5 cr. The contribution is 1cr ,1cr and 50 L. In that case what should be the value of 1 ) Total conideration of property 2 ) Amount credited/paid 3) Stamp value of property. Please guide
Hello @sanjivw
In this case,
- Total consideration of property will be Rs. 2.5 cr
- Amount paid/credited would be respective contribution of buyers for example Rs. 1 cr for A & B and Rs. 50 Lakhs for C.
- Stamp duty value of property would also be the proportionate amount of contribution.
Hope this helps !!
1.Total consideration of the property is Rs.1cr ,1cr and 50 L.
2.Amount paid/credited would be respective contribution of buyers i.e Rs.1 cr each for A & B and Rs. 50 Lakhs for C
3.stamp value of the property is amount paid/credited. (if the stamp duty value is less than or equal to the amount paid/credited)
so in this case Total consideration is 2.5 cr for for each A , B and C . The Amount paid and Stamp duty value will be 1cr each for A and B and for C it will be 50 L . The Govt valuation of property has no role to play in this . is my understanding is correct ?
i think the total consideraton is 2.5 cr for each
Hello @sanjivw
The total consideration is Rs. 2.5 Cr each for A, B and C. The government valuation is the stamp duty value of property itself so it has no role to play in TDS return filing.
Priyanshu
so in stamp duty document schedule 2 show it as 1.8 cr Our table will be as follows
A B C
Total consideration 2.5Cr 2.5 Cr 2.5 Cr
Amt credited 1 Cr 1 Cr 50 L
Tot stamp duty value 1cr 1 cr 50 L
TDS 1 L 1L 50000
Pl confirm
Hello @sanjivw
It’s correct