Form 26QB filing

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  1. Form 26QB

Total value 15652500

2 buyers equal share

1 seller

Payment installment 

Total value of property in 26qb shown share only or total value

 

Replies (2)
Quick Summary
A query was raised on Form 26QB filing for a property worth Rs. 1,56,52,500 purchased by two buyers from one seller. The discussion clarified that separate Form 26QB filings are required for each buyer, and TDS under Section 194-IA must be deducted and reported on installment payments.

For a joint purchase of ₹1,56,52,500, the "Total Value of Consideration" field in Form 26QB must reflect the full ₹1,56,52,500, regardless of the individual buyer's share. However, the "Amount Paid/Credited" field is where you input only the specific buyer's share of the installment currently being paid. You will need to file two separate forms (one for each buyer) for every installment.

 

Form 26QB is the challan-cum-statement for TDS deducted under Section 194-IA on property purchases.

Key points to keep in mind:
- TDS rate: 1% of sale consideration if the property value is Rs. 50 lakhs or more
- Deductor: the buyer, not the seller
- Due date: within 30 days from the end of the month in which TDS is deducted (within 30 days of the registration or payment date)
- Filing: done online on the TIN NSDL portal, and no TAN is required for this form
- After filing, issue Form 16B (TDS certificate) to the seller within 15 days of downloading it from TRACES

A common mistake is treating the entire property value as the TDS base when the sale is structured in installments. TDS applies on each payment, not just at registration.

For a complete walkthrough including the common errors and the TRACES download process, this [Form 26QB and TDS on property purchase guide](https://taxgarden.in/blog/tds-on-property-purchase-section-194-ia-form-26qb-india) covers the full process step by step.

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