Form 26QB challan must be completed by each buyer for each unique buyer-seller combination for their respective share. For example, with one buyer and two sellers, two forms must be completed. If there are two buyers and two sellers, four forms must be completed. The buyer of the property must make the payment of TDS. It is its responsibility to provide the information about the online real estate transaction on the TIN website. After successfully providing the details of the transaction, self-notice can: It is important to ensure that the PAN is correctly mentioned by the buyer and seller in the form. There is no online mechanism for subsequent correction. The recipient should contact the evaluating officer or the PTDCS to correct any errors. According to the information you received in the Annual Registrar/Sub-Registrar Information Return (AIR), you made a transaction for the purchase of properties that exceed Rs. 50 lakhs (rupees fifty lakhs) during the 2013-14 fiscal year. However, the TDS return on Form 26QB has not yet been filed by you. In this regard, your urgent attention will be drawn to the following regarding the filing of the TDS return on Form 26QB and the issuance of TDS certificates in Form 16B downloaded from TRACES. c.

The PAN of the seller as well as the buyer must be indicated in an online form (Form 26QB) to provide information on the real estate transaction. The ability to provide information about the transaction of the sale of real estate and the payment of TDS thereof is available on the website www.tin-nsdl.com (www.tin-nsdl.com/). Click Print Form 26QB to print the form. Then click on “Submit to bank” to make the required payment online via internet banking. Then, switch to the payment page via the online banking feature of different banks. A list of authorized banks can be found onlineservices.tin.egov-nsdl.com/etaxnew/Authorizedbanks.html After selecting the form, you will be redirected to the screen to enter some information. You should be able to see that the status of your Form 16B download request is available. If the status is Submitted, wait a few hours before repeating the last step. Download the .zip file. The password to open the file .zip is the date of birth of the deductor (the format is TTMMYYYY). Your form will be available in the .zip file in PDF format.

Print them out. To complete this process, complete the seller`s panel and confirmation number related to the real estate transaction for which Form 16B is to be requested and click “Continue”. If there is a problem on the NSDL e-Gov website when entering details in the online form, contact the TIN call center on 020 – 27218080 or write to us (Please indicate the subject of the email as an online direct payment payment Tax_ TDS when selling real estate). The online form available on the TIN website to provide information about TDS on the property is called Form 26QB Please note that the name and status of PAN corresponds to the ITD PAN master. You must verify the name before making the payment. If a discrepancy is observed, please confirm the PAN you entered. Any required changes to the name displayed by the PAN template can be updated by completing the appropriate change request forms for PAN. If the name is correct, click “Confirm” Form 26QB applies to the purchase of properties after June 1, 2013. Therefore, for properties where formalities were completed before that date, it is not necessary to file Form 26QB.

The Income Tax Service regularly receives an annual information return (CEO) from the Registrar or the Office of the Deputy Registrar. From this report, the department can find out if you have made a real estate transaction above Rs.50 lakh. If the buyer has not deducted the withholding tax of 1% (or 0.75%) from the transaction amount or has not filed a TDS within the specified time frame, the IT department will send a notice to the buyer. You should check the net banking website of your bank`s website for this information. (The user must be prepared to fill out Form 26QB with the following information: If you make the payment through a bank, note that the bank will make the payment without scanning a challan. The bank receives Challan`s details online from the form submitted on www.tin-nsdl.com. Once registered, you can receive the approved Form 16B (TDS Certificate) and issue this form to the seller. Check your Form 26AS seven days after payment. You will see that your payment is shown in Part F under “Details of withholding tax on the sale of real estate u/s 194 (IA) [For buyers of real estate]”. The information in Part F is not available for the claim in the buyer`s ITR.

With the confirmation receipt printed, you can go to any of the authorized bank branches to make the TDS payment retrospectively. The bank will make the payment via its netbanking function and provide you with the Challan counter sheet as confirmation of the payment of taxes. Based on the information on the confirmation form, the Bank will only make the payment through the Netbanking Facility by visiting tin-nsdl.com and entering the confirmation number duly generated by the tin for the statement already completed by the Buyer in connection with this transaction. . . .