TDS on Property Purchase — Form 26QB
Under Section 194IA, the buyer of any immovable property (other than agricultural land) worth ₹50 lakh or more must deduct 1% TDS from the payment to the seller and deposit it using Form 26QB within 30 days from the end of the month of payment. The buyer must also issue Form 16B to the seller within 15 days of filing 26QB. Errors in 26QB are common and attract penalties on the buyer. BSP Associate ensures correct computation, timely deposit, and proper Form 16B issuance.
What's Included
Everything you get when you engage BSP Associate for TDS on Property Purchase — Form 26QB.
- TDS applicability check — threshold, property type, and resident/NRI seller
- TDS amount computation on full sale consideration
- Form 26QB challan-cum-return preparation and filing
- TDS deposit within the 30-day deadline
- Form 16B generation and handover to seller
- Joint buyer and instalment payment scenarios handled
- Correction statement filing if errors were made in original 26QB
Documents Required
Have these ready before you reach out — it speeds things up considerably.
Documents You'll Need
Please arrange these before your consultation
- PAN of the buyer (and all joint buyers if applicable)
- PAN of the seller (and all joint sellers if applicable)
- Sale agreement or sale deed with property details and consideration amount
- Payment schedule if consideration is paid in instalments
- Bank account details of the buyer for challan payment
- Property address and details as per the sale deed
Don't have these? We'll prepare them for you.
BSP Associate can draft and file all of the following
- Form 26QB challan-cum-TDS return
- TDS computation workings
- Form 16B certificate for the seller
- Correction statement if original 26QB had errors
Frequently Asked Questions
Common questions about TDS on Property Purchase — Form 26QB.
The buyer of the property is responsible for deducting 1% TDS from each payment made to the seller under Section 194IA. This applies to any immovable property (other than agricultural land) where the total sale consideration is ₹50 lakh or more. The buyer must deposit the TDS using Form 26QB within 30 days from the end of the month of payment.
BS Balaji
Founder & Principal Consultant
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