If you are buying a property which is more than 50 lakhs then according to the government of India and tax department Form 26QB is available through which you can pay the necessary amount of 1% TDS. People are often confused with what to fill and how to fill, that is why we made a little guide with FAQs on how to download and fill the Form 26QB pdf.
Frequently Asked Questions
We have tried to bust every myth and every confusion with this nifty little list, let us know in comments if we missed anything.
- The form you are looking for is Form 26QB, it is available on the official TIN website and can be downloaded from here.
- According to rule the TDS will be deducted from the property and will be deposited to the government accounts. The buyer will pay this amount.
- The customer doesn’t need TAN, tax deduction account number. Buyer can provide with the PAN, and the process can be done.
- If the property sold have the value of 85 lakhs, then the tax will be paid on 35 lakh or 85 lakh? The tax must be paid on the 85 lakh.
Hope this points answers your frequently asked questions. Have more queries? Comment bellow!
Guide to fill Form 26QB
- The first thing will be to go to the official website. Click here to go to the site.
- If you are buying from a single seller and you is a single buyer then filling form is the easiest.
- If there are more than one buyer and one seller, then the form must be completed by individual buyers and seller. Every buyer and seller must fill the form in individual of their share and contribution.
The image attached is from the official site of taxation.
How to download Form 26QB
You will need acknowledgment number from the above link we provided. After you get the number, you will have to register as a new user if you haven’t already been. You will be validated, and if everything goes smooth, then you will see the page listed below.
Click on the download and go on Form 26QB. To understand better see the image below.
Make sure you read all the comments and probably your all questions are answered.