Form 26QB – TDS on sale of property
At JuroLegal, we assist buyers and sellers in accurately complying with TDS requirements on the sale of immovable property by preparing and filing Form 26QB under Section 194-IA of the Income Tax Act, 1961. When a property transaction exceeds ₹50 lakhs, the buyer is legally required to deduct 1% TDS on the sale consideration and deposit it with the government. Our experts handle the end-to-end process — from verifying buyer–seller details, calculating the exact TDS, generating the Form 26QB challan, and making the online payment to issuing Form 16B (TDS Certificate). We ensure complete accuracy, timely submission, and full compliance with Income Tax and TRACES portal regulations. Whether you’re purchasing residential, commercial, or land property, JuroLegal ensures your TDS on property transaction is handled professionally, protecting you from legal or financial penalties.
In 2013, the Indian government introduced Section 194IA through the Finance Act. This section lays down important rules regarding the sale or purchase of immovable properties. It’s the legal provision that finalizes transactions when buying an immovable property valued at a minimum of ₹50 lakhs. This encompasses various types of real estate, including residential and commercial properties, plots, and more—excluding agricultural land.
If you’re the buyer in a property transaction exceeding ₹50 lakhs, you assume a central role in the process. Remember that for each unique buyer-seller combination, a separate form is required. Two sellers and one buyer? You’ll need to fill out two forms. Two sellers and two buyers? It’s straightforward—four forms.
- You must submit Form 26QB within 30 days after the month in which your property transaction took place. If multiple buyers are involved, each one must file their own Form 26QB. Furthermore, within 15 days of the transaction, the buyer should provide the seller with the TDS certificate after depositing the TDS amount.
Essential Information for Filing Form 26QB
You’ll need:
- PAN of both the seller and the buyer.
- Address details for both parties.
- Specifics about the property.
- Contact information for the buyer and seller.
- Details regarding the amount credited or debited.
- Information about tax deposit.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.