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Provisions related to TDS on Immovable Properties u/s. 194-IA

Provisions related to TDS payment and furnishing of TDS Certificate

1. Any sum deducted under section 194-IA shall be paid to the credit of the Central Government within a period of seven days from the end of the month in which the deduction is made.

2. TDS payment u/s. 194-IA  shall be accompanied by a challan-cum-statement in Form No.26QB.

3. Where tax deducted is to be deposited accompanied by a challan-cum-statement in Form No.26QB, the amount of tax so deducted shall be deposited to the credit of the Central Government by remitting it electronically within the time specified in sub-rule (2A) into the Reserve Bank of India or the State Bank of India or any authorised bank.

4. Every person responsible for deduction of tax under section 194-IA shall furnish the certificate of deduction of tax at source in Form No.16B to the payee within fifteen days from the due date for furnishing the challan-cum-statement in Form No.26QB.

5. Form 16B is to be generated online from the web portal.

Provisions related to TDS deduction and applicability

The Finance Act 2013 had provided that purchaser of an immovable property (other than agricultural land) worth over Rs 50 lakh is required to pay withholding tax at the rate of 1% from the consideration payable to a resident transferor.  The rate at which tax is to be cut is 1%, but it would go up to as high as 20% if the seller does not disclose his permanent account number.  This amendment is effective from 1st June, 2013.


  • Thanikasalam says:


    Please let me know which web portal to generated form 16B?


    July 11, 2013 at 11:23 am
    • TDSMAN says:

      Dear Sir,

      we are still awaiting the circular for the printing of Form 16B. As per the submission procedure, it is most likely to get generated from Income tax India website i.e.

      July 16, 2013 at 6:26 am
      • Vidyadhar says:


        Is there any update on when the TDS certificate 16B is going to be provided to the buyer?

        Appreciate your response.


        July 19, 2013 at 1:41 pm
        • TDSMAN says:

          Dear Sir,

          Update regarding Form 16B is still awaited from the department.

          July 22, 2013 at 10:15 am
  • Sanvi Chahak says:

    If advance payment is made on before 01/06/2013, then in that case whether TDS should be deducted u/s 194-IA

    August 21, 2013 at 5:50 am
    • TDSMAN says:

      Dear Sir,

      Please consult this with your CA or tax consultant.

      August 27, 2013 at 8:40 am
  • Siddhartha says:

    I have forgotten to print Form 26QB though I have the acknowledgement number and made the payment. I also have the Challan after online payment to the Bank.

    How can I take a reprint of form 26QB.


    November 6, 2013 at 12:50 am
  • Gian Parkash Gupta says:

    Please clerify if the tax deducted at the time of payment & credited to the Income Tax Department is refunded to the seller of the property or to the purchaser. Similarly please also confirm as to who will reflect the deducted amount in the annual return of tax submitted to the tax authorities.Is it the seller or the buyer.

    June 4, 2014 at 5:28 pm
  • Vishal Gujarati says:

    Dear Sir,

    Kindly inform due date for payment of TDS U/s. 194IA.

    If we are crediting party’s account in the month of March’14, then we can pay the same on or before 30/04/2014 or we have to pay the same by 07/04/2014.

    Kindly reply at the earliest.



    December 3, 2014 at 4:41 pm

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