Tips for filling Form 26QB Screen & Fields to be filled

Tips for filling Form 26QB Screen & Fields to be filled

1. Gather all the details and save it in a text file - refer below screens
This is important as Form26QB timeouts and expires after few minutes

2. Ensure that you have already calculated TDS amount, property value etc before you launch form 26QB

3. Basic Tax should  be rounded to nearest rupee depending on the value of Total amount Paid/Credited. Even a difference of 1 Rupees would not be accepted.

4. Ensure that you are entering deduction date as the date on which you have made payment to the builder

5. If you get expiration alert then you must click submit

6. Ensure you have your banks netbaking details handy so that you can immediately make the payment.

Click on images to enlarge








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1% TDS on Property - Form 26QB & Form 16B

1% TDS on property decoded
TDS @ 1% is to be deducted on all Property Transactions which are above Rs. 50 Lakhs. 
  • This TDS is to be deducted on all types of Property Transactions irrespective of whether the property in consideration is a flat or a building or a vacant plot. 
  • TDS is to be deducted irrespective of whether it is a Residential Property or Commercial or Industrial Property. 
  • TDS is to be deducted on all types of property transactions except Agricultural Land.'
  • TDS is to be deducted on the total amount paid to the Seller excluding VAT and Service Tax. This can be explained with the help of an example:-
Example: Suppose you need to pay below amount to builder/seller:

Base Value of Property:  60,00,000
Service Tax :                     2,00,000
VAT:                                     50,000
--------------------------------------------
Total                                62,50,000

Then you need to pay 1% TDS on 60,00,000
1% TDS for above example would be = 60,000/-
99% Amount + Service Tax+VAT + other taxes needs to be paid to the builder/seller
Amount which should be paid to builder = Total - 1% TDS = 62,50,000 - 60,000 = 61,90,000/-


What is form 26QB and Form 16B?
Form 26QB is the online form which is filled by the buyer while paying 1% TDS via NSDL site
Form16 B is the TDS certificate which is given to the buyer as a proof that he/she has successfully paid 1% TDS by filling form 26QB
How to Pay 1% TDS?

2. Select Form26QB

3. Enter All your details

4. Click Proceed and verify all your details

5. Save the acknowledgement number for future reference

6. Make Payment via net banking from the bank of your choice

7. Save the Challan details for future reference
How to get Form 16B ?
1. After paying 1% TDS go to below link:
https://www.tdscpc.gov.in/app/login.xhtml

2. Login to the TDS portal using your PAN as user id
Note: If you do not have an account then you need to register first by filling the Registration form

3. After you have logged in, from menu select Download -> Form 16B (For Buyer)

4. Enter/Select below details :
Assessment year, 
Acknowledgement Number which you have received during 1% TDS Payment while filling FORM 26QB
Enter PAN number of seller
Note: The acknowledgement number might take between 1-3 days to appear in this TDS portal

5. Verify Details to be printed on Form 16 B

6. Select Submit Request

7. After you have submitted the request it would take few days to appear under downloads in the same TDS portal. (Downloads - > Requested Downloads)
Note: It can take anywhere between 1-7 days for Form16B to appear under downloads

 Password to open Form 16B 
Password is your date of birth in ddmmyyyy format 
If your DoB is 15th April 1984 then password would be : 15041984

 Also check


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