What is Form 26QB and how do I pay TDS on a property purchase?
Category
Returns & due dates
Answered by
A CA firm
Bottom line
A buyer of immovable property over ₹50 lakh deducts 1% and deposits it using Form 26QB (a challan-cum-statement) within 30 days of the month-end, using PAN — no TAN needed.On purchase of immovable property (other than agricultural land) where the consideration or stamp value is ₹50 lakh or more, the buyer deducts 1% under Section 194-IA and deposits it through Form 26QB, a combined challan-cum-statement filed online using the buyer's and seller's PAN.
It must be filed within 30 days from the end of the month of deduction, after which the buyer issues Form 16B to the seller. Where there are multiple buyers or sellers, a separate 26QB is filed for each pair.
General information for FY 2026-27 under the Income-tax Act 2025, not advice on your specific case. Verify against the latest law or ask a CA before acting.