Form 26QB – TDS on Sale of Property
Buying or selling property in India comes with certain tax compliance requirements. Under Section 194-IA of the Income Tax Act, 1961, if you are purchasing a property (other than agricultural land) worth more than ₹50 lakhs, you must deduct 1% TDS on the total sale value and deposit it with the Government of India. This process is done through Form 26QB.
What is Form 26QB?
Form 26QB is a Challan-cum-Statement used for depositing and reporting TDS on sale of immovable property. It ensures that the buyer deducts and pays the applicable tax to the Income Tax Department.
- Applicable When: Property sale value is ₹50,00,000 or more.
- TDS Rate: 1% of the sale value (if seller is a resident of India).
- Who Files: The buyer of the property is responsible for deducting and depositing TDS.
Due Date for Filing Form 26QB
- The buyer must deposit the deducted TDS and file Form 26QB within 30 days from the end of the month in which the property transaction takes place.
Documents Required
- PAN of Buyer & Seller
- Property Sale Agreement / Deed
- Bank details of Buyer
- Address of Property being purchased
- Contact details of Buyer & Seller
Our Services for Form 26QB Filing
We provide end-to-end assistance in filing Form 26QB quickly and accurately.
✅ Guidance on TDS deduction process
✅ Preparation and filing of Form 26QB
✅ Generation of Form 16B (TDS certificate for Seller)
✅ Rectification of errors in challan or PAN
✅ Compliance support to avoid penalties
Why Choose Urban Munimjee?
- Expert handling - of property-related TDS compliances
- Hassle-free process – No need to worry about errors
- Timely filing – To avoid penalties & late fees
- End-to-end support – from deduction to Form 16B issuance