Tuesday, February 7, 2023
Home Income Tax How to file online Form 26QB TDS on sale of property

How to file online Form 26QB TDS on sale of property

In this blog, you will get to know how you can file Form 26QB (TDS on sale of the property) in online mode on the TIN website.

how to file online form 26qb
By CA Devesh Thakur

Step 1:

Visit to TIN (Tax Information Network) NSDL website

tin-ndsl
By CA Devesh Thakur

Step 2:

Navigate to the Services tab from the main menu and select “TDS on sale of property”

TDS on sale of property
By CA Devesh Thakur

Step 3:

Select “Online form for furnishing TDS on property (Form 26QB)” from the left menu bar.

Online form for furnishing TDS on property
Online form for furnishing TDS on property By CA Devesh Thakur

Step 4:

Now e-payment of taxes will open where you can find all the TDS challans which you can pay in online mode. You will have to select the applicable challan as “TDS on Sale of Property (Form 26QB)”.

payment of TDS on sale of property
By CA Devesh Thakur

Step 5:

Fill the complete form which is divided into 4 parts i.e. Taxpayers Information, Address, Property details, and Payment Information.

(Before proceeding to fill the form, the user should be ready with the below-mentioned documents in order to file the form 26QB :

PAN of the Transferee (Payer/Buyer)

PAN of the Transferor (Payee/Seller)

taxpayer info from 26qb
By CA Devesh Thakur

Complete Address of the Transferee and Transferor. [Full address with Pin code, Email Id, and Phone Number)

Form 26QB By CA Devesh Thakur
Form 26QB By CA Devesh Thakur

Complete address of the Property transferred

type of property payment of tds on sale of property
Form 26QB By CA Devesh Thakur
  • User has to select “Type of Property” [either Land or Building (shops, apartments, flats, bungalows, etc.)
  • Completer address with Pin code
tds on sale of property payment type
Form 26QB By CA Devesh Thakur
  • Date of agreement/ booking
  • Total Value of Consideration
  • Select “Type of Payment” as Lumpsum or installment
  • Enter Date of Payment/credit
Form 26qb date of agreement
Form 26QB By CA Devesh Thakur
  • Select the Date of Tax Deduction
  • Under Tax Deposit Details enter Total amount paid/credited, Rate of TDS will get auto-filled for FY 2020-21 there is a relaxation of reduction in TDS rate by 25%, therefore the effective rate of TDS for FY 2020-21 is 0.75%.
tax deposit details form 26qb
Form 26QB By CA Devesh Thakur

Enter basic Tax, Interest, and Fee is applicable, the total amount will get auto-populated.

Under Payment Info tab- Select mode of payment either e-tax payment immediately or e-tax payment on the subsequent date.

Under Payment Info tab- Select mode of payment either e-tax payment immediately or e-tax payment on subsequent date.
Form 26QB By CA Devesh Thakur

Enter “Captcha Code” and Proceed

Amount paid/credited & tax deposit details

Submit the duly filled form to proceed. ​A confirmation screen will appear and after confirming the said form, a screen will get appear that will show 2 options as “Print Form 26QB” and “Submit to the bank”.

Users will be allotted a unique acknowledgment number after confirming the form and that number will get displayed on the screen.

It is highly advisable to save this acknowledgment number for future references.

User can save the Form 26QB and proceed for payment by selecting “Submit to the bank”.

Then the site will redirect you to the selected banking channel net banking portal where you can proceed with the payment.

On successful payment, a challan counterfoil will be generated that contains details like CIN, payment details, and bank name through which e-payment has been made.

The user is required to keep a copy of such payment acknowledgment for further references.

Happy filing Form 26QB

Click here to know “how to download Form 16B”

How to fill online Form 26QC|challan cum statement for furnishing TDS on Rent of Property

Form 16C TDS| Step by step procedure on how to issue TDS Certificate Form 16C from the TRACES

CA Devesh Thakur

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3 COMMENTS

  1. We have applied correction in form 26 QB through online portal and the seller has approved the same buy still pending for AO approval from 03.08.2022.
    We had submitted Affidavit duly notarised and other documents like Form 16B,Form 26QB,Tax payer challan and FORM 26QB CORRECTION – ACKNOWLEDGEMENT.
    Still showing pending with AO Gourakhour(UP)
    Please suggest next course of action.

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