TDS on Property

Share This Thread
  1. Devender Thakur

    Devender Thakur New Member

    If the Purchaser of the Property do not have netbanking in his bank account then can the seller deposite the TDS on property from his own bank account ? Please guid sir
  2. Neha Sharma

    Neha Sharma Active Member

    It is not mandatory for the buyer to pay the TDS deducted through NetBanking.

    The Buyer of the property (deductor of tax) has to furnish information regarding the transaction online on the TIN website. After successfully providing details of transaction deductor can:

    • Either make the payment online (through e-tax payment option) immediately;
    • Or make the payment subsequently through e-tax payment option (net-banking account) or by visiting any of the authorized Bank branches. However, such bank branches will make e-payment without digitization of any challan. The bank will get the challan details from the online form filled on
    Devender Thakur likes this.
  3. Devender Thakur

    Devender Thakur New Member

    In any case can the seller deposit the TDS by taking the payment of TDS in Cash or Cheque from the Purchaser ?
  4. Neha Sharma

    Neha Sharma Active Member

    It is the buyer of the property who has to deduct the TDS and deposit the same with the government
    Devender Thakur likes this.

    VAIBHAV DILIP RANE Active Member

    T.D.S. on Sell of Property :-

    > Property:- Any Property (other than Agriculture Land)

    > Rate:- @ 1% on Sale Consideration

    > When? :- If Sale Consideration is Rs. 50,00,000 /- or more

    > Who? :- Buyer is Responsible to deduct TDS, and then Same to be deposited into Government Account

    > TAN? :- No, Buyer is not in compulsion to hold TAN,... he can quote PAN also.

    > PAN :- PAN of Buyer and Seller is Compulsory, and must be quote

    > Furnishing Details :- Buyer should furnish details in Form- 26QB, available on NSDL website online.

    > Payment of TDS :- Should be pay by Buyer, either Online or by approaching authorize Banks.

    > Form 16B :- After Successful completion of above steps,... Seller will get Form 16-B, from Buyer (means Deductor)

    >>> For more details :-
    Devender Thakur and Neha Sharma like this.
Draft saved Draft deleted
Similar Threads Forum Date
Investment of property received as gift Income Tax Tuesday at 9:56 AM
Indexation for Pre-2001 Property Income Tax Jan 1, 2018
TDS on sale of property Income Tax Dec 31, 2017
Capital Gains on House Property Income Tax Dec 31, 2017