Step-by-Step Process to Pay TDS Using Form 26QB Online

Buying a property above ₹50 lakh? Congratulations! But wait — before you pop the champagne, remember: you're required to deduct TDS (Tax Deducted at Source) and deposit it using Form 26QB. Sounds complicated? Don’t worry, it’s easier than you think. Let’s break down the entire online payment process step-by-step.

What is Form 26QB and When Do You Need It?

Form 26QB is an online statement-cum-challan for paying TDS on property transactions. According to Section 194-IA of the Income Tax Act, if the sale value of a property exceeds ₹50 lakh, the buyer must deduct 1% of the sale amount as TDS and deposit it to the government via Form 26QB.

Documents and Information Required Before Filing

Here’s your checklist before starting:

• PAN of buyer and seller
  
  

• Sale deed or agreement copy
  
  

• Property details (address, type)
  
  

• Sale consideration amount
  
  

• Date of payment or booking
  
  

• Bank account details for online payment
  
  

Having everything ready saves time and avoids errors.

Step-by-Step Guide to Paying TDS Using Form 26QB Online

Step 1: Visit the TIN-NSDL Website

• Open your browser and go to TIN-NSDL website.
  
  

• Click on Services > TDS on Sale of Property.
  
  

Step 2: Select Form 26QB

• Under "TDS on Sale of Property," choose Form 26QB (Payment of TDS on property).
  
  

Step 3: Fill Buyer Details

• Enter the buyer’s PAN, name, address, email ID, and mobile number carefully.
  
  

• PAN must be verified through the system; a mismatch can cause rejection.
  
  

Step 4: Fill Seller Details

• Enter the seller’s PAN, name, address, and contact information.
  
  

• Make sure the seller’s PAN matches official records.
  
  

Step 5: Enter Property and Transaction Details

• Fill in property type, complete address, sale consideration, and TDS amount (1% of the sale value).
  
  

• Mention the date of payment or credit and the mode of payment (lump sum or installments).
  
  

Step 6: Confirm the Details

• Review all entries carefully.
  
  

• Once you click "Submit," editing becomes difficult, so take your time to double-check.
  
  

Step 7: Make the TDS Payment

• You’ll be given two options:
  
  

• Immediate Payment through Net Banking
  
  

• Generate Challan for later payment at an authorized bank
  
  

Choose whichever suits you best!

Different Payment Options Explained

Online Net Banking Payment

• Choose your bank from the list.
  
  

• Login using Net Banking credentials.
  
  

• Make the payment immediately.
  
  

• After payment, a challan and acknowledgment will be generated.
  
  

Offline Payment through Authorized Bank

• If you choose to pay later, you’ll receive a Challan 280 form.
  
  

• Visit an authorized bank with this challan and pay via cheque or cash.
  
  

• Get a stamped acknowledgment from the bank.
  
  

Downloading Acknowledgment and Form 16B

• Save the Acknowledgment Number right after payment.
  
  

• Within 5-7 working days, register on the TRACES portal.
  
  

• Download Form 16B (TDS certificate) and give a copy to the seller.
  
  

Things to Keep in Mind After Payment

• Always verify payment status after a few days on TRACES.
  
  

• Issue Form 16B promptly to the seller.
  
  

• Keep the acknowledgment slip for your records (it's important during tax filing).
  
  

Common Issues and How to Fix Them

• Payment Failure: Try again after checking bank connectivity.
  
  

• PAN mismatch: Validate PAN details beforehand.
  
  

• Wrong amount entered: File a correction request via TRACES.
  
  

Being careful upfront saves a lot of post-payment corrections.

Conclusion

Paying TDS through Form 26QB might sound daunting at first, but once you know the steps, it's just a matter of following the process carefully. Keep your documents ready, double-check every detail, and don’t delay the payment. A smooth Form 26QB filing ensures a trouble-free property transaction and keeps you on the right side of the law.