Taxes are often confusing. As someone who is interested in buying a property in the future, it is necessary to know information about property tax and TDS. All property owners are required to pay property tax to the Government of India. TDS is deducted by the property buyer on the total amount paid to the property seller. Eg. If the amount paid for the property is Rs. 90 lakh, TDS will be deducted on Rs. 90 lakh. Refer to my answer below to know how to pay TDS on property online.
How to pay TDS online for property purchase?Visit the TIN NSDL: Tax Information Network of Income Tax Department website.
The link for TIN NSDL is www.tin-nsdl.com
Select the option which says 'TDS on sale of property'.
Further select "Online form for furnishing TDS on property (Form 26QB)"
You will be required to select the applicable challan as "TDS on Sale of Property".
Fill the form with the required details.
Fill in the PAN of the seller & buyer, Communication details of seller & buyer, property details.
Also mention the amount paid/credited & tax deposit details.
You will have to fill the form to proceed.
The confirmation screen will come where 2 buttons will be shown i.e. "Print Form 26QB" and "Submit to the bank".
Click on the "Submit to the bank" button to pay the TDS amount through net banking. On successful payment, an acknowledgment challan slip will be displayed on the screen.
The slip will include CIN, payment details, and bank name through which e-payment has been made.
Download the slip and keep it safe with you.
I hope my answer about how to pay TDS on property online is helpful.
If you want help with scrutiny of technical documents and reports, Check out NoBroker Due Diligence pack. Read more answers : What is TDS and why it is deducted? How to make payment of TDS on sale of property?
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Authors Of The Question
how to pay tds on property online
Nitya
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2021-12-23T09:19:12+00:00 2021-12-23T09:19:13+00:00Comment
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