I have purchased a property as per the following detail:-
property value is ₹56,30,000
Payment 1: ₹3,00,000 on 02-11-2025
Payment 2: ₹39,22,500 on 01-12-2025
Date of Agreement: 08/12/2025
Payment Remaining: ₹14,07,500
Now builder is asking to pay 1% TDS to be paid as per 26QB and give them Form 16B.
Now my questions are:-
1. Shall I have fill up two Form 26QB for two installments ?
2. Will separate Form 16B will be issued for seperate payments ?
3. Will there be late fine for ₹3,00,000 ?
Under Section 194-IA, TDS @ 1% must be deducted and deposited on each instalment payment of property purchase. Therefore, you must file separate Form 26QB and issue separate Form 16B for each payment. Since TDS was not deducted on ₹3,00,000 on time, interest and late fee will apply.
YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
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