NSDL e-Governance Infrastructure Limited

e-Tutorial – TDS on
sale of property

Contents updated on January 27, 2017

Confidential. NSDL e-Gov Internal use only
NSDL e-Governance Infrastructure Limited

eTutorial –
TDS on sale of property

Tax Information Network of Income Tax

Department (managed by NSDL)
Confidential. NSDL e-Gov Internal use only
TDS on Sale of Property

• As per Finance Bill of 2013, TDS is applicable

on sale of immoveable property wherein the sale
consideration of the property exceeds or is equal
to `50,00,000 (Rupees Fifty Lakhs).

• Sec 194 IA of the Income Tax Act, 1961 states

that for all transactions with effect from June 1,
2013, Tax @ 1% should be deducted by the
purchaser of the property at the time of making
payment of sale consideration.

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Payment of Tax

Tax so deducted should be deposited to

the Government Account through any of
the authorized bank branches using the e-
Tax payment option available at NSDL-
Gov

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E-payment

• E-Payment facilitates payment of taxes online by

taxpayers.

Pre-requisite

– To have a net-banking account with any of the

Authorized Banks

– For list of authorized banks, please refer

https://onlineservices.tin.nsdl.com/etaxnew/Authorize
dbanks.html

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Steps to pay tax online

• Log on to NSDL-TIN website (www.tin-

nsdl.com)

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 Steps to pay tax online
• Under TDS on sale of property, click on the
option “Online form for furnishing TDS on
property”

Under TDS on sale of property, Click on

the option ‘Online form for furnishing
TDS on property’
Click on the option “TDS on sale of
property’

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Steps to pay tax online
• Select Form for Payment of TDS on sale of
Property

Click on the option “TDS on sale of property’

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Steps to pay tax online

Select Tax applicable for which payment Financial / Assessment Year will be
is to be done populated on the basis of Date of
Payment / Credit Selected in the Form

In case the status of the Seller is Non-

Resident, Form 26QB will not be
Select Status of the applicable. The correct form to be used
Payee/Seller/Transfero is Form 27Q.
r

Mention PAN of
Transferor/Seller
Mention PAN of
Transferee/Buyer

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Steps to pay tax online

Re-enter PAN of Re-enter PAN of

Transferee/Buyer Transferor/Seller

Provide Complete address of Provide Complete address of

Transferee/Buyer Transferor/Seller

Please select whether

Please select whether more than one
more than one Transferor /Seller
Transferee/Buyer

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Steps to pay tax online
Provide Complete
address of Property
transferred

Mention the date of

Agreement/Booking of
property

Mention the Total value

of consideration (Property
Value)

Mention if the above payment

is done in Lump sum or in
Installments

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Steps to pay tax online

Please select the amount

paid/credited (Enter the amount paid
to the Transferor/Seller)

Please enter the amount

paid/credited (Enter the amount paid
to the Transferor/Seller)

Please enter the TDS amount to be

paid (amount deducted by the
purchaser at the time of purchase of
the property)

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 Example

Re-enter the amount payable to the

Seller/Transferor

TDS amount should be as per the TDS

rate provided above. User will not be
able to proceed in case of mismatch
in the TDS amount

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Steps to pay tax online Please select the mode of
payment of Tax.

Please select the Bank

through which payment is to
be made

Please select the Date of

Payment/Credit to the
Transferor/Seller

Please select the Date of

Tax Deduction

Please enter the characters

seen in the above picture.

After entering all the above required

detail please click on PROCEED
button to continue.

To Clear all the details mentioned in

the above form, please click on Clear
Form

To go to the homepage, please

click on Home
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Steps to pay tax online
• On proceed, confirmation page is
displayed to verify the details entered

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Steps to pay tax online

If all the above detail including the

In case you have made a mistake in
name displayed (as per ITD) is correct
data entry, click on “EDIT” to correct
then, click on “Confirm” button
the same.

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Steps to pay tax online

If all the above detail including the

name displayed (as per ITD) is correct
then, click on “Confirm” button

In case you have made a mistake in

data entry, click on “EDIT” to correct
the same.

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Steps to pay tax online
Please make a note of below points 9 digit Acknowledgment Number

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Steps to pay tax online

To do the required TDS payment,

please click on ‘Submit to the Bank’
button

Click on the Option ‘Print Form

26QB’ to print Form 26QB

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Steps to pay tax online

• On clicking on Submit to the Bank, deductor will have to

login to the net-banking site with the user ID/ password
provided by the bank for net-banking purpose.

• On successful login, enter payment details at the bank

site.

• 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.

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Points to remember
• Deduct tax @ 1% from the sale consideration.

• PAN of Seller as well as Purchaser should be mandatorily

furnished in the online Form for furnishing information
regarding the sale transaction.

• As per the CBDT notification no. 30/2016 dated April 29,

2016, the due date of payment of TDS on transfer of
immovable property is thirty days from the end of the month
in which the deduction is made.

• Do not commit any error in quoting the PAN or other details

in the online Form as there is no online mechanism for
rectification of errors. For the purpose of rectification you
are required to contact Income Tax Department.

• While completing the Online form, please note the following

points:-
– Fields marked with * are mandatory
– Do not enter double quotes (“ ") in any of the fields.

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Points to remember cont….

•TDS amount as per Form 26QB should be entered in the field ‘Basic
Tax’ (Income Tax) on the Bank’s web-portal

•TDS certificate (Form 16B) will be based on “Basic Tax” (Income Tax)
only.

•Taxpayer/ Buyer are advised to save the Acknowledgement Number for

downloading the Form 16B from TRACES website.

• TDS certificate (Form 16B) will be available for download from the
TRACES website after at least 2 days of deposit of tax amount at the
respective Bank.

• Click on View Acknowledgment Number under TDS on Property by

providing the relevant details for retrieving the Acknowledgment Number

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View Acknowledgment Number

Under TDS on sale of property, Click on

the option ‘View Acknowledgement
Number’

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View Acknowledgment Number
View is provided for the purpose of retrieving the Acknowledgement Number
generated from TIN website issued to Transferee/Buyer

Enter PAN of the Transferee/Buyer

Enter PAN of the Transferor/Seller

Enter Total Payment (as entered in

Form 26QB)

Please select Assessment Year

After entering all the above required
detail please click on Submit button
to continue.

Please enter the characters seen in

the above picture.

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View Acknowledgment Number

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 Thank You

In case of any further queries/concerns please

contact our TIN Call Center at 020-27218080 or
e-mail us at tininfo@nsdl.co.in

Tax Information Network of Income Tax 26

Confidential. NSDL e-Gov Internal use only Department (managed by NSDL)