Answer

1. F

   Facts

   When buying property worth ₹50 lakh or more, the buyer deducts 1% TDS and files Form 26QB, a challan cum statement. If he did not pay it, or used a wrong PAN or amount, your credit will not show. Only the buyer can correct it.

2. P

   Provisions and law

   • Sec 194IA (now Sec 393(1) Table Sl. No. 3(i))Buyer of immovable property worth ₹50 lakh or more deducts 1% TDS and files Form 26QB
   • Sec 199, Income-tax Act 1961TDS deducted and paid to the government is treated as tax paid on your behalf and credited as per the Rules
   • Sec 205, Income-tax Act 1961Where tax was deducted at source, you cannot be asked to pay that tax again directly
3. A

   Analysis

   Ask the buyer for the Form 26QB acknowledgement and Form 16B. If he paid with a wrong PAN or amount, he can file a correction on TRACES. If he deducted 1% from the price but never paid it, Sec 205 protects you from paying that tax again, and the sale deed and payment records showing the short payment are your proof. Raise a grievance under the CPC-TDS category for Form 26QB issues if he does not act.

4. C

   Conclusion

   1. 1Ask the buyer for the 26QB acknowledgement and Form 16B.
   2. 2Check PAN, amount and date details.
   3. 3Ask him to correct errors on TRACES.
   4. 4Raise a grievance if he does not cooperate.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.