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We, at K M Gatecha & Co LLP, believe in providing our clients with the complete range of services including TDS RETURN ON PURCHASE OF PROPERTY FORM 26QB in Ahmedabad related to taxation, compliance to Government rules and regulations, and investment, in an efficient and hassle-free manner. We assist and empower our clients with the help of our team of experts to complete any project or services availed by our clients. Our Services include Income Tax return services, accounting services, GST registration, returns and refunds, company Formation services, audit services, TDS returns filing, investment planning services and many more. More importantly we believe in providing our clients with the complete knowledge about the services that they are looking to avail of.



One of the services that we provide is TDS RETURN ON PURCHASE OF PROPERTY FORM 26QB in Ahmedabad. The scope of service for TDS return on purchase of property includes: • Collection and assessment of documents, • Evaluation and information regarding the tax liability, • Registration for TRACES, • Filling, filing and generation of forms, • Filing of TDS return and acknowledgement.

What is TDS on Purchase of Property (Form 26QB)?

  • TDS on purchase of property is the tax that must be deducted by the purchasing person before making payment of the purchased property to the seller,
  • It is the responsibility of the purchaser to deduct the tax when making payment.
  • The tax must be deducted from the amount paid to the seller.

Documents required for TDS return on Purchase of property (Form 26QB):

  • PAN Card of buyer and seller,
  • Address, mobile number and email-id of buyer and seller,
  • Sale Deed Copy.

Process of TDS Return on purchase of property:

  • Collection of Documents such as Sale Deed, Pan Card and personal Details,
  • Registration for TRACES,
  • Filing of Form 26QB,
  • Form 16B generation for deducting individual or company,
  • Acknowledgement Receipt of Form 16B (normally takes 7-15 days),
  • Deducting tax from purchase amount,
  • Depositing the Tax amount with Income Tax Department in the following month of deduction.

Salient aspects to be taken care of while filing TDS return on purchase of property (Form 26QB):

  • TDS is to be deducted when making final payment of property,
  • PAN card of seller is to be present while filing Form 26QB, otherwise higher TDS must be deducted while making the payment,
  • It is the sole responsibility of the purchasing individual or Company to deduct the TDS and pay it to the Income Tax department.
  • TDS must be deposited in the month following the payment of amount of purchase property and returns must filed by the 20th of the month following the end of quarter in which payment for the purchased property is made. (E.g., July 10th is payment is made between 1st April and 30th June).
  • If TDS is not deposited, then the penalty can be up to INR 1Lakh under section 271H.

TDS is the tax amount deducted at source by the individual or company which is buying the property.

Yes, any individual or company which has made payment for a property purchased has to file a TDS return in Form 26QB.

If PAN card of seller is presented while filing Form 26QB then 1% TDS is to be deducted and if the PAN card is not presented, then 20% TDS is to be deducted.

  • If TDS is not deducted by purchaser, then the TDS amount will be recovered by the Income Tax Department from him/her.
  • If TDS is not deposited by the purchaser after deducting it from paid amount, then the penalty in such case is up to INR 1lakh apart from the TDS amount, Interest Amount and late payment fees.
  • TDS in case of joint owners is to be deducted only when sale amount of each owner is more than INR 50lakhs,
  • For each seller and each buyer, a separate form 26QB must be filled.


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