Form 26QB

Form 26QB is available on the TIN website and is used to furnish information in regards to TDS on property. The deductions come under Section 194-IA of the Income Tax Act. The last date for the payment of TDS is thirty days from the date the immovable property was transferred.

Points to Remember: Seller of the Property

  • Your PAN must be provided to the purchaser so that information in regards to the TDS can be furnished to the Income Tax Department.
  • The taxes that have deducted must be verified in Form 26AS by the purchaser.

Points to Remember: Purchaser of the Property

  • Tax at 1% must be deducted from the sale consideration.
  • The PAN of the seller must be collected and verified.
  • The purchaser’s and seller’s PAN must be provided in the online form.
  • No errors must be made when quoting PAN details. In case of any changes, you must contact the Income Tax Department.

Process to Fill Form 26QB

  1. Visit https://www.tin-nsdl.com/.
  2. Click on Services - ‘epayment: Pay Tax Online’
  3. Click on ‘Proceed’ under ‘TDS on Property (Form 26QB)’.
  4. Fill the form by providing the relevant details. Ensure that you have the below
    • PAN details of the buyer and seller.
    • Property details.
    • Communication details of the buyer and seller.
    • Tax deposit details.
    • Amount that has been credited/paid.
  5. Submit the form.
  6. A confirmation screen will appear. Post confirmation, the two options that will be displayed on the screen are ‘Print Form 26QB’ and ‘Submit to the bank’. A unique acknowledgement number will also be displayed. Make a note of the number.
  7. Next, click on ‘Print Form 26QB’.
  8. Click on ‘Submit to the bank’.
  9. Next, you must make the payment via internet banking. You will be redirected to the payment page of the bank.
  10. Once the payment has been completed, a challan will be displayed with the bank name, payment details, and CIN. The challan is considered as proof of payment.

List of Authorised Banks

The list of authorised banks from where the payment can be completed is mentioned below:

  • List of Authorised Banks
  • The list of authorised banks from where the payment can be completed is mentioned below:
  • United Bank of India
  • Union Bank of India
  • Bank of Baroda
  • UCO Bank
  • Canara Bank
  • State Bank of India
  • Punjab National Bank
  • Punjab and Sind Bank
  • Jammu and Kashmir Bank
  • Indian Overseas Bank
  • Indian Bank
  • IDBI Bank
  • ICICI Bank
  • HDFC Bank
  • Corporation Bank
  • Central Bank of India
  • Bank of Maharashtra
  • Bank of India

Form 26QB FAQs

  1. Is it mandatory to provide the PAN details of the seller?
  2. Yes, it is mandatory to provide the PAN details of the seller.

  3. From where can I print Form 26QB?
  4. In case you have forgotten to print Form 26QB, you will find the option under ‘E-tax on subsequent date’ on the official website of TIN. You will need to provide the details available on the acknowledgement slip in order to print the form.

  5. Is it possible to make cheque/cash payments for TDS at banks?
  6. The buyer can approach an authorised bank branch to get details about the e-payment.

  7. How can I make the tax payment towards the fee in Form 26B?
  8. You can make the tax payment in Form 26QB on the bank’s site and the TIN website.

  9. What are the timings to make the payment via the internet?
  10. You can visit the bank’s website to find out the timings to make the payment.

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