TDS on Purchase of Immovable Property
Now file Form 26QB online
File Form 26QB for purchase of land / building >= 50 Lacs from Indian Resident.
Service includes providing TDS certificate from TRACES portal
Click here if any of the sellers is a non-resident
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TDS is applicable on sale of immoveable property (other than rural agricultural land) wherein the sale consideration of the property exceeds or is equal to ₹ 50,00,000 (Rupees Fifty Lakhs).
Sec 194 IA of the Income Tax Act, 1961 states that for all transactions with effect from June 1, 2013, Tax @ 1% should be deducted by the purchaser of the property at the time of making payment of sale consideration. Tax so deducted should be deposited to the Government Account through any of the authorised bank branches.
Buyer or Purchaser of the property is not required to procure Tax Deduction Account Number (TAN). The Buyer is required quote his or her PAN and sellers PAN.
TDS certificate in Form 16B is to be issued by the deductor (Buyer of property) to the deductee (Seller of property) in respect of the taxes deducted and deposited into the Government Account.
Online statement cum challan Form/ Form 26QB is to be filled in by each buyer for unique buyer-seller combination for respective share. E.g. in case of one buyer and two sellers, two forms have to be filled in and for two buyers and two seller, four forms have to be filled in for respective property shares.
FILL UP BASIC DETAILS BELOW
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SUBMIT DOCUMENTS AND PAY FEES
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process and submit application
Our team coordinates with you to pay your taxes and submits your Form 26QB with authorities.
TDS CERTIFICATE ISSUED
Post processing of Form 26QB by Income Tax Department, TDS certificate in Form 16B can be downloaded from Income Tax Department portal.