TDS on Property Purchase (Form 26QB)
Due: 30 days from the end of the month in which TDS is deducted.
Due date
30 days from the end of the month in which TDS is deducted.
Due dates are frequently extended by notification or circular. Verify on the official portal before relying on them. Section references are to the Income-tax Act, 1961 (up to FY 2025-26); the Income-tax Act, 2025 re-numbers provisions from tax year 2026-27.
What is it?
Buyers deduct TDS (generally 1% of consideration) on property purchase and deposit via Form 26QB. For NRI sellers, section 195 applies instead.
Who must comply
Buyers of property above the specified value from resident sellers.
Penalty / consequence of delay
Interest and late fee under section 234E.
How to comply
- Pay TDS via Form 26QB
- Download Form 16B and give to seller
Tips to stay compliant
- Add the due date to your calendar a week early and keep documents ready.
- Reconcile books with portal data before filing; fix differences first.
- Keep acknowledgements, challans and working papers for at least the statutory retention period.
- Watch for CBDT / CBIC / MCA notifications: extensions and relaxations are common, but never assume one.
Need help?
GstMan can handle this compliance for you with reminders and filing. Contact us or message on WhatsApp.
Frequently asked questions
Is TDS on property from an NRI seller different?
Yes. For NRI sellers, TDS under section 195 applies on the applicable amount, often at much higher rates.