TDS on Sale of Property-Form 26QB

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TDS form 26QB Filing

Form 26QB-TDS on Sale or Purchase of Property 

TDS compliance and Filing of Form 26QB on the Sale or Purchase of Immovable property. TDS (Section 194-IA) compliance on the Sale/ Purchase of property Starts from Rs. 1999/-

  • Consultation & guidance on the applicability of TDS (Section 194-IA)
  • Challan Preparation,
  • Assistance in payment of TDS
  • Registration on Income Tax and TRACES Portal,
  • Filing of TDS Return (26QB),
  • TDS Certificate generation (Form 16A)
TDS form 26QB filing

    TDS on Purchase of Immovable Property: Section 194-IA


    As per the provision of section 194-IA, any person or HUF purchasing an immovable property (other than agricultural land) valued at not less than Rs. 50 lakhs must deduct TDS. The property here includes every immovable property like

    • House Property (flat, vila, etc.,)
    • Commercial Property
    • Plot or unconstructed land

    Exception- Agricultural land.

    TDS needs to be deducted only on the transactions where sale proceeds are Rs.50,00,000 (Fifty Lakhs) or more.

    Rate of TDS under section 194-IA

    Tax deducted at source (TDS) shall be deducted at the rate of 1%.

    Who is responsible to deduct TDS u/s 194-IA?

    The buyer(s) of the immovable property is responsible to deduct TDS.


    Documents required for TDS compliance -Form 26QB

    • PAN card of Buyer(s) of property
    • PAN Card of Seller(s) of property
    • Address, Mobile No, and e-mail id of buyer and seller
    • Copy of “Agreement to Sale” or Sale Deed.
    • In the case of an under-construction property, a copy of the payment schedule

    Due date of Deposit of TDS

    Any sum of TDS deducted U/s 194-IA is to be deposited to the Government account within a period of 30 days from the end of the month in which the deduction is made and shall be accompanied by a challan-cum-statement in Form No. 26QB.


    Generation of TDS Certificate (FORM 16B)

    After the deposit of the TDS, the buyer or deductor shall furnish the TDS certificate in Form No. 16B to the seller (payee) within 15 days from the due date for furnishing the Challan-cum-statement in Form No. 26QB.

    TDS certificates can be generated online through TRACES Portal.


    Are you looking for expert TDS filing and compliance services?

    Connect us for expert consultation and guidance in the applicability of TDS on the purchase of property, Challan Payments and Filing, Income Tax E Filing and Traces Registration, Filing of TDS Return(26QB), Generation of Form 16A for the concerned deductees.