Scribd
Upload
6 views

TDS GUIDELINES (2)

Uploaded by

anirudh.bhowmik
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
6 views

TDS GUIDELINES (2)

Uploaded by

anirudh.bhowmik
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 13

How to pay TDS against property

(194IA)

www.m3mindia . c om
Steps to pay TDS through challan 26QB and to obtain Form 16

The steps to pay TDS through challan 26QB and to obtain


Form 16B (for the seller) are as follows:

Step-1: Log in to your account on the Income Tax e-filing


portal. Select e-File > click on e-Pay Tax from the
dropdown as shown below

www.m3mindia . c om
Steps to pay TDS through challan 26QB and to obtain Form 16

Step-2: Click on ‘+ New Payment’

Step-3: Click on the proceed button on the tab


‘26QB- TDS on Property’ as highlighted below.

www.m3mindia . c om
Steps to pay TDS through challan 26QB and to obtain Form 16

Note: In the next few steps, you will have to add the
following details:

Add Buyer's Details


Add Seller's Details
Add Property Transferred Details
Add Payment Details

Step-4: Add Buyer's Details

All your details will be auto-filled, but you can also change
them if needed. After entering the details, click on
‘Continue
www.m3mindia . c om
Steps to pay TDS through challan 26QB and to obtain Form 16

Step 5: Add Seller's Details


Add all the details of the Seller like their PAN,
address

www.m3mindia . c om
Steps to pay TDS through challan 26QB and to obtain Form 16
Step 6: Add Property Details

Add all the property details like type, address and also the
sale details like date of agreement, value etc. The tax
amount will be calculated automatically. Once done, click
on 'continue'

www.m3mindia . c om
THANK YOU

www.m3mindia . c om
Steps to pay TDS through challan 26QB and to obtain Form 16
Step 7: Add Payment Details:

Select the payment mode and proceed to complete the payment. Once the payment is done, a challan
will be generated.

www.m3mindia . c om
Steps to pay TDS through challan 26QB and to obtain Form 16
Step 8: Register in TRACES
 If you are a first-time user, register
on TRACES as a Tax Payer with your
PAN Card Number and the Challan
number registered during payment.

www.m3mindia . c om
Steps to pay TDS through challan 26QB and to obtain Form 16

 Once you register, you will be able to obtain approved Form 16B (TDS certificate) and you can issue this
Form to the Seller.

 Check your Form 26AS seven days after payment. You will see that your payment is reflected under “Details
of Tax Deducted at Source on Sale of Immovable Property u/s 194(IA) [For Buyer of Property]”.

 Part F gives you details such as TDS certificate number (which TRACES generates), name and PAN of
deductee, transaction date and amount, acknowledgement number (which is the same as the one on your
Form 26QB), date of deposit and TDS deposited.

www.m3mindia . c om
Steps to pay TDS through challan 26QB and to obtain Form 16
Step 9:Download your Form 16B
 After your payment in Form 26AS has been reflected, log in to TRACES. Go to the Download tab at the tab
and click on “Form-16B (for the buyer)”.

www.m3mindia . c om
Steps to pay TDS through challan 26QB and to obtain Form 16
 To finish this process, fill PAN of the seller and acknowledgement number details pertaining to the
property transaction and click on “Proceed”.

 Verify all the details once and click on “Submit a request”.

 After a few hours, your request will be processed. Click on the Downloads tab and select Requested
Downloads from the drop-down menu.

www.m3mindia . c om
Steps to pay TDS through challan 26QB and to obtain Form 16

 You should be able to see that the status of your Form 16B download request is ‘available‘.

 If the status says ‘submitted‘ wait for a few hours more before repeating the last step.

 Download the ‘.zip file’. The password to open the ‘.zip file’ is the date of birth of the deductor (the format
is DDMMYYYY). Your form will be available inside the .zip file as a pdf. Print this out.

www.m3mindia . c om

You might also like