#04|Form-26QB|How to Pay Demand Raised Against TDS on Sale of Property|Handle Notice For TDS Default

What is the procedure for payment of demand raised against TDS on sale of property by CPC-TDS?

Ans. Procedure for payment of demand raised against TDS on sale of property by CPC-TDS has been explained in this video

In this video learn how to handle for TDS default u/s 200A of TDS on Property.

How to handle notice for TDS Default u/s 200A of TDS on Property
TDS on Property Purchase Form 26QB| How to file form 26QB| TDS certificate 16B for property purchase

TDS on purchase of property | 26QB | Section 194 - IA. Know it to avoid any penalty.

What is demand payment for TDS on property?
How do I pay my outstanding TDS demand online?
How can I pay my TDS 26QB demand?
How do I pay my penalty for 26QB?


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As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property exceeds or is equal to ₹ 50,00,000 (Rupees Fifty Lakhs). Sec 194 IA of the Income Tax Act, 1961 states that for all transactions with effect from June 1, 2013, Tax @ 1% or 0.75% should be deducted (depending upon the Date of Payment/Credit to the Seller) by the purchaser of the property at the time of making payment of sale consideration. Tax so deducted should be deposited to the Government Account through any of the authorised bank branches.

Detailed procedure, user friendly e-tutorial, list of Bank branches authorised to accept TDS and Frequently Asked Questions (FAQs) are available on this website for reference.

Points to be remembered by the Purchaser of the Property:
Deduct tax @ 1% or 0.75% from the sale consideration (depending upon the Date of Payment/Credit to the Seller).
Collect the Permanent Account Number (PAN) of the Seller and verify the same with the Original PAN card.
PAN of seller as well as Purchaser should be mandatorily furnished in the online Form for furnishing information regarding the sale transaction.
Do not commit any error in quoting the PAN or other details in the online Form as there is no online mechanism for rectification of errors. For the purpose of rectification you are required to contact Income Tax Department.
Points to be remembered by the Seller of the Property:
Provide your PAN to the Purchaser for furnishing information regarding TDS to the Income Tax Department.
Verify deposit of taxes deducted by the Purchaser in your Form 26AS Annual Tax Statement.
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