Answer

1. F

   Facts

   A buyer who deducts TDS on property must file the challan-cum-statement on time. A late filing attracts a fee of ₹200 a day under Sec 234E, capped at the TDS amount, and TRACES raises it as a demand.

2. P

   Provisions and law

   • Sec 234E, Income-tax Act 1961 (now Sec 427)Late fee of ₹200 for each day of delay in filing a TDS statement, up to the TDS amount.
   • Sec 194IA, Income-tax Act 1961 (now Sec 393(1) Table Sl. No. 3(i))The buyer of immovable property worth ₹50 lakh or more deducts 1% TDS.
3. A

   Analysis

   If TDS was ₹60,000 and Form 26QB was filed 40 days late, the fee is ₹8,000. Interest may also apply if TDS was paid late. Pay the fee through the portal and check TRACES for any further default. For purchases after 1 April 2026 the form is Form 141 under the 2025 Act.

4. C

   Conclusion

   1. 1Log in to TRACES and check the default for the 26QB.
   2. 2Download the justification details.
   3. 3Pay the fee and any interest through e-Pay Tax.
   4. 4Confirm the default is cleared on TRACES.
   5. 5File on time for any future property deals.

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