TDS on land property purchase Form-141 related query

[milan bamal]

Purchased Land worth-4 cr

Buyer A and B Equal Ration 50:50(2 Cr Each)

Seller C and D Equal Ratio 50:50(2 Cr Each)

Since there are 2 buyers and 2 sellers, a total of 4 forms will need to be filled by Buyers.2-2 Each

A made a payment of Rs. 2 crore to C

Now, Buyer A is filling out the TDS on Property form in respect of Seller C. Could you tell me what figures should be entered in some of the fields of Form-141?

Total Stamp Duty Value of Property-Will it be Rs. 2 crore here or Rs. 4 crore?

Total sale Consideration in respect of the property-Will it be Rs. 2 crore here or Rs. 4 crore?

Transaction details:

Proportionate amount of Stamp Duty value-Will it be Rs. 2 crore here or Rs. 4 crore?

Amount paid/credited in present transaction-Here, it will be Rs. 2 crore because the payment being made by A to C. is Rs. 2 crore."

AI Summary

Joint property TDS reporting requires whole-property values, ownership-based proportionate value, and actual buyer-seller payment details in Form 141.
Form 141 reporting for joint property purchases requires total stamp-duty value and total sale consideration to be entered for the entire property. Proportionate stamp-duty value is calculated using both the buyer's and seller's ownership shares. The amount paid or credited must reflect the actual payment made by the relevant buyer to the relevant seller. Buyer-seller combinations should not be automatically allocated equally where the sale deed records a different payment or credit arrangement.