All about TDS on sale of property 

All about TDS on sale of property 


All about TDS on sale of property

There are only few Tax Deduction At Source which is applicable to all the classes of taxpayers. TDS on property purchase is one such provision
The purchaser of an immovable property whether ready or under construction) of value of Rs 50 lakh or more has the responsibility under the Income Tax Act to do TDS @1% from the sale consideration payable to the seller. This withholding tax must be deducted at source and deposited in the government’s account as per the income tax laws.
The due date for payment is 30 days from end of the month in which the deduction is made.
The TAN (Tax Deduction Account Number) is not required to make this payment
PAN of the buyer and the seller is mandatory to make e-payment of TDS on sale of property. TDS payment can be made by the buyer on the following link:

 Form 26QB:

It is calls com statement for making TDS Payment.To make an online payment of tax from the e-tax payment option, the buyer is required to fill an online form, 26QB. PAN of the buyer and seller, details of the property, total consideration payable, and payment details must be furnished.
TDS needs to be paid on the amount paid/payable to the seller. The buyer can make the payment using the e-tax payment option. The tax payment can be made via net banking portal or by visiting authorised bank branches. Once the payment is made, an acknowledgement number is generated. On entering the acknowledgment details at a later date, one can generate the submitted Form 26QB for records.
If the property transaction has more than one party as a buyer or seller, Form 26QB needs to be filled by each buyer for unique buyer-seller combination.

Form 16B:

Once tax payment is made, Form 16B (TDS certifi cate to be issued by the buyer to the seller) can be downloaded from the website of Centralised Processing Cell of TDS (CPC-TDS) at

If the buyer faces any problem when filling the online form, he may contact the TIN Call Center at 020-27218080 or email at