26QB Filing Guidance

Save Share

This query is : Resolved

Quick Summary

This discussion clarifies the correct dates to use when filling out Form 26QB for property transactions. It explains that the 'Date of Agreement/Booking' is the original agreement date, while the 'Date of Payment/Credit' should be the earliest payment date made. The 'Date of Tax Deduction' remains the same as the earliest payment date, even if the TDS is paid later. It also confirms that 'Lumpsum' is the correct payment type when the full amount is disbursed, and advises on TDS payment deadlines to avoid interest.

surajit kar

surajit kar (Querist)
Follow

20 October 2022 Hi,
While filling Form 26QB I'm seeing 3 different kinds of dates -
(1) Date of Agreement/Booking
(2) Date of Payment/Credit
(3) Date of Tax Deduction

As per my understanding,

(1) should be the date on which original seller/purchaser agreement was made. This is 23rd Sept 2022.
(2)
7th Sept 2022 Paid first booking amount
7th Sept 2022 Paid rest 20 percent down payment to seller
28th Sept 2022 Rest of payment has been disbursed from BANK to Seller Account

(3) Today 20th OCT 2022 I am trying to file TDS
So, in my case, what should be the dates for (2) and (3) points?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

20 October 2022 1. Correct.. its 23.09.2022
2. The earliest if you are filing single 26QB, i.e. 7th Sept. 22
3. Even if you are paying the amount on 20th Oct, to treasury, date of deduction of TDS remains same as 07.09.2022.

surajit kar

surajit kar (Querist)
Follow

20 October 2022 Thanks for your advice!
One more thing...
Payment Type should be Lumpsum right because all fund has been disbursed to seller.
And no interest will be imposed (only have to pay 1% of property value) if I pay whole TDS amount till 31st OCT right?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

21 October 2022 1. Yes, that is why only single 26QB is to be filed.
2. Correct...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now