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2 Jan 2017

TDS on Sale of Property for FY 2015-16 and AY 2016-17

How to fill TDS on Sale of Property? Know the steps to fill up online form for furnishing TDS on property (Form 26QB) for Financial Year 2016-17 and Assessment Year 2017-18.

The buyer of an immovable property (land, flat, apartment, shop or a bungalow) which is valued at Rs 50 lakh or more is required to pay a withholding tax to the government. The prevailing withholding tax is deducted at source, and is 1% of the consideration payable to the seller. It is the responsibility of the buyer to deduct the tax and deposit the same in the government treasury.

Before filling up the form 26QB a user should be ready with following information such like PAN of the seller & buyer, Communication details of seller & buyer, Property Details and Amount paid/credited & tax deposit details.

Steps to fill Online TDS on sale of property form 26QB


STEP1. Firstly logged into the TIN NSDL official website www.tin-nsdl.com.

STEP2. Find 'TDS on sale of property' link given on webpage.

STEP3. Click on to "Online form for furnishing TDS on property (Form 26QB)" link given on webpage.

STEP4. Now select the applicable challan as "TDS on Sale of Property" from dropdown menu.

STEP5. Fill all the mandatory details and complete form as applicable.

STEP6. Submit the duly filled form to proceed. ​A confirmation screen appears. After confirming, a screen appears showing two buttons as "Print Form 26QB" and "Submit to the bank".

STEP7. A unique acknowledgement number is also displayed on the screen. It is advisable to save this acknowledgment number for future use.

STEP8. ​​Click on "Print Form 26QB" to print the form. Then click on "Submit to the bank" to make the required payment online through internet banking.

STEP9. Then proceed to the payment page through internet banking facility of various banks.

On successful payment a challan counterfoil will be displayed containing CIN, payment details and bank name through which e-payment has been made. This counterfoil is proof of payment​ being made.

Proceed to TRACES portal( www.tdscpc.gov.in) after 5 days to download Form 16B.

Steps to Download Form 16B


STEP1. Register & login on TRACES portal ( www.tdscpc.gov.in) as taxpayer using your PAN.

STEP2. Select "Form 16B (For Buyer)" under "Downloads" menu.

STEP3. Enter the details pertaining to the property transaction for which Form 16B is to be requested. Enter the Assessment Year, Acknowledgment Number, PAN of Seller and click on "Proceed".

STEP4. A confirmation screen will appear. Click on "Submit Request" to proceed.

STEP5. A success message on submission of download request will appear. Please note the request number to search for the download request.

STEP6. Click on "Requested Downloads" to download the requested files.

STEP7. Search for the request with request number. Select the request row and click on "HTTP download" button. ​​​​​

Check Most Important Points Before Fill TDS


✓ TDS needs to be paid on the amount paid/payable to the seller.
✓ The acknowledgement number issued for e-payment needs to be retained by the buyer/tax payer and presented to the authorised bank for further payments.
✓ The buyer has the option to pay the tax online through the e-tax payment option immediately or at a subsequent date. Alternatively, he can make the payment by visiting any authorised bank branch.
✓ If the property transaction has more than one party as a buyer or seller, Form 26QB needs to be filled in by each buyer for unique buyer-seller combination for the respective share.
✓ The buyer of the property is not required to procure a TAN (TDS Account Number) for the payment of TDS on sale of property.

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