The stamp duty value of the property is higher than the sale value

TDS & TCS TDS Return Forms
1

Property to be purchased by 5 partners
Stamp duty value 1.73 crore
Sale consideration 1.57 crore
Query:
1-whether sale consideration is as per law as compare to stamp duty value
2-what will be the total sale consideration feeded in form 26 qb for each partner?
Is it 1.57 each partner or equal share i.e 31.50 lac each.
Plz suggest

2

Hey @Mohammad_Nadeem

  1. If the stamp duty value exceeds 110% of the actual sale consideration, the stamp duty value will be considered as the deemed sale value for income tax purposes and TDS to be deducted on this amount.

  2. In Form 26QB, the total sale consideration should reflect the full value of the property, while the amount paid should indicate the buyer’s proportionate share.

Hope this helps!

3

When the stamp duty value exceeds the sale value, it could mean the property is undervalued for tax purposes. This may lead to additional charges or complications during the registration process.