How to Download and Fill Form 26QB for TDS Payment on Property Transactions

The Income Tax Department introduced the concept of TDS to streamline and simplify tax collection. Any individual or Hindu Undivided Family (HUF) who purchases a property valued at ₹50 lakh or more is required to deduct TDS before making payment to the seller. This deducted amount must be deposited with the government by submitting Form 26QB within the prescribed time limit.

What is Form 26QB?

As per the provisions of the Income Tax Act, 1961, specifically Section 194-IA, any buyer of immovable property is obligated to deduct TDS at 1% on the total consideration or the stamp duty value—whichever is higher—if the transaction value exceeds ₹50 lakh.

For example, if a property is being purchased for ₹90 lakh, the TDS is calculated on the full ₹90 lakh, not just the excess over ₹50 lakh.

Form 26QB is a combination of challan and statement, submitted online to deposit this TDS amount with the government. The buyer must fill this form accurately and within the due date. The form requires details of the property, buyer, seller, and the tax amount. It can be accessed and submitted through the official Income Tax portal.

When Should Form 26QB Be Filed?

As a buyer, you are required to file Form 26QB within 30 days from the end of the month in which the TDS was deducted. To better understand this, take the following example:

Let’s say you purchase a property from a friend and the transaction takes place on 15th December 2024. In that case, you must deposit the TDS and submit Form 26QB by 30th January 2025. Failing to file within this timeframe will attract a late fee of ₹200 per day until the default continues.

Procedure to Pay TDS via Form 26QB

If you’re unsure how to complete Form 26QB, follow these steps:

Step 1: Visit the official Income Tax Department website and sign in to your account.

Step 2: Go to the ‘E-file’ menu, select ‘e-Pay Tax’, and under the ‘New Payment’ section, click ‘Proceed’ next to ‘26QB (TDS on sale of property)’.

Step 3: You will need to complete three pages by entering the required information:

• Basic details of the buyer
  
  

• Basic details of the seller
  
  

• Information about the property, TDS amount, payment or credit amount, property address, and relevant contact details
  
  

Step 4: On the following screen, select your preferred payment option. You may opt for either ‘Pay Now’ or ‘Pay Later’, depending on what suits you best.

Step 5: Choose ‘Pay Now’ to make the TDS payment. Once the transaction is complete, an acknowledgement for Form 26QB will be generated, which you can download.

Step 6: After the successful processing of Form 26QB, you can download the TDS Certificate (Form 16B) by logging in to the TRACES portal as a taxpayer.

How to Download Form 26QB?
Follow the steps below to download Form 26QB:

Step 1: Visit the official Income Tax portal and log in using your credentials. Go to e-File > e-Pay Taxes.

Step 2: Click on Payment History. If Form 26QB has already been filed, you’ll find an entry listed under Type of Payment: TDS on Sale of Property (800). Under the Action column, you’ll see the option to download the receipt and the statement for Form 26QB.

Here’s a sample Form 26QB.

Penalty Charges Related to Form 26QB

The following table outlines the various penalties that may apply in connection with Form 26QB:

Conclusion
Form 26QB serves as both the challan and return for depositing TDS on property purchases. If you are the buyer, make sure to file this form on time to avoid incurring penalties.