In Budget 2024, one more thing has become difficult. If you are thinking of buying a property and the registry is above 50 lakhs, then the rule in joint owners was that if two people are buying a property worth 50 lakhs in a transaction of 25 lakhs, then it was not compulsory for them to deduct 26QB and 1% TDS. Because, per person, the property was below 50 lakhs. But in Budget 2024, there is a lot of clarity on this. In which it is being said that if your total property value is more than 50 lakhs, then even though the value of joint owners is less than 50 lakhs, but it is compulsory for you to deduct 1% TDS and file 26QB.
