Form 26QB (Sale of Property)


*The price is exclusive of any amount payable to Government/Regulatory Authorities and GST.

This Service is for Filing of TDS Return for Sale of Property (Form 26QB)

Price 399

Services covered :
  • PAN Verification
  • Preparation of Form 26QB (TDS Return)
  • Registration on TRACES
  • Generation of Form 16B

Documents Required :
  • PAN of transferor
  • PAN of transferee
  • Details such as:
  • 1. Address of transferor and transferee
  • 2. Address of Property being transferred
  • 3. Agreement Date
  • 4. Total Consideration
  • 5. Amount paid, date of payment and date of deduction

FAQ ()

Question : What is Form 26QB?
Answer : Form 26QB is Return Cum Challan Statement to be filed in case of transfer of immovable property by a resident and where the consideration payable is Rs. 50 Lakhs or more.
Question : What is TDS rate on transfer of immovable property?
Answer : TDS rate on transfer on immovable property is 1% of consideration payable.
Question : Who is responsible to deduct the TDS on sale of Property?
Answer : Buyer of the property would have to deduct and pay the TDS.
Question : Do I need to obtain TAN for Filing this Form?
Answer : TAN is not required for filing Form 26QB.
Question : What is the due date for Filing Form 26QB?
Answer : Form 26QB along with payment of TDS is to be filed within a period of 30 days from the end of the month in which the deduction is made.
Question : How much is the interest for late payment of TDS?
Answer : If TDS is not deducted and paid interest will be 1% per month from the due date of deduction to Actual date of deduction. If TDS is deducted but not paid interest will be 1.5% per month from the actual date of deduction to actual date of payment.
Question : What if Form 26QB is filed late? Is there any late fee or penalty?
Answer : Fees for late filing of Form 26QB is Rs. 200 per day until the return is filed. Maximum late fees shall not exceed the TDS amount. In addition to late fees payable, Assessing Officer (AO) may charge a penalty of minimum of Rs. 10,000 and up to Rs. 1,00,000 maximum.
Question : What is Form 16B?
Answer : Form 16B is the TDS certificate to be issued by the deductor (Buyer of property) to the deductee (Seller of property) in respect of the taxes deducted and paid.
Question : I am a buyer, whether I should deduct TDS on Property from the amount exceeding the property value of Rs 50 Lakhs or on the whole amount of property sold?
Answer : TDS is to be deducted on the entire consideration paid. For example, if consideration is Rs 70 Lakhs, TDS would be deducted on Rs 70 Lakhs and not Rs 20 Lakhs.