Form 26QB Guide: Download, Fill & File TDS on Property Sale

Guide to Form 26QB: Download, Fill, and File TDS on Property Sale

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Guide to Form 26QB: Download, Fill, and File TDS on Property Sale

3 min 13 Mar 2025

Highlights:

When is Form 26QB Required to Be Filed?
Step-by-Step Guide to Paying TDS Using Form 26QB
How to Access and Download Form 26QB
Penalties for Non-Compliance with Form 26QB Filing

Form 26QB is a challan-cum-statement required to be filed for the deduction of Tax Deducted at Source (TDS) on the sale of immovable property in India. As per Section 194IA of the Income Tax Act, 1961, buyers are required to deduct TDS at the rate of 1% on transactions where the sale value of the property exceeds Rs.50 Lakh. This form facilitates the online payment of TDS and submission of details related to the transaction.

When is Form 26QB Required to Be Filed?

Buyers must file Form 26QB in the following cases:

When purchasing an immovable property (land, building, or part of a building) valued at Rs.50 Lakh or more
The payment should be made by a resident buyer to a resident seller
The TDS amount must be deducted at the time of making payment to the seller
Form 26QB must be filed within 30 days from the end of the month in which TDS was deducted

Step-by-Step Guide to Paying TDS Using Form 26QB

Visit the official TIN NSDL portal and select the ‘TDS on Property (Form 26QB)’ option.
Fill in the required details, including:
- Buyer and seller’s PAN details
- Property details and transaction amount
- TDS amount deducted
Select the mode of payment:
- Online payment through net banking (immediate payment option)
- e-Payment via bank branches (challan generated for offline payment)
Submit the form and generate an acknowledgment number.
Download the challan and keep it as proof of TDS payment.

How to Access and Download Form 26QB

Visit the TRACES portal

Navigate to ‘Downloads’ and select ‘Form 26QB (for buyer)’

Enter the relevant transaction details, submit and download the form

Penalties for Non-Compliance with Form 26QB Filing

Failing to file Form 26QB or delay in TDS payment can attract penalties:

Late Filing Fee (Section 234E): Per day late filing fee until the TDS return is filed
Penalty (Section 271H): This penalty will be levied in case of failure to file within one year. However, not applicable if TDS is deposited with interest before one year from the due date.

Filing Form 26QB ensures compliance with tax regulations and helps avoid penalties, making it important in property transactions.

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