Compliance Pack
TDS on property purchase, Form 141 Schedule B (earlier 26QB)
What this means, checked by a CA
If you buy a property worth ₹50 lakh or more, you must cut 1% TDS from the payment and deposit it with Form 141. We work out the right amount for each buyer and seller, file the form from your login, and give the seller the Form 132 certificate.
₹1,499
Per payment (lump sum or each instalment), + 18% GST
- Same or next working day after agreement and payment details
- Due: Pay and file Form 141 within 30 days from the end of the month in which tax was deducted. Issue Form 132 within 15 days after that due date.
How we do it: IDFD
Every case runs through the same four steps: Information, Discussion, Forms, Deliverables. You see each one ticked as it happens.
InformationWhat we need from you · 9 items
Buyer PAN and e-filing login
Form 141 filed from buyer login
Seller name and PAN
Seller gets credit; else higher rate
Sale agreement with date
Date of agreement field
Stamp duty value
TDS on higher of value or price
Full property address
Mandatory field
Payment schedule and dates
Lump sum or instalment, month of deduction
Co-buyer and co-seller shares
Shares must total 100%
Previous acknowledgement numberOptional
Links later instalments
Seller's lower deduction certificateOptional
Only if seller holds one
DiscussionWhat we discuss · 6 items
Is the seller a resident or an NRI?
NRI seller uses Schedule E, not B
Is consideration or stamp duty value ₹50 lakh or more?
Decides if TDS applies
Lump sum or instalments, and which instalment is this?
Each payment month needs a filing
How many buyers and sellers, and what shares?
Each buyer files own form for own share
Are any sellers companies?
Corporate and non-corporate need separate forms
Was any payment already made without TDS?
Interest and late fee
FormsForms we file · 6 items
Compute TDS per buyer and seller
1% x higher of (stamp duty value x buyer share x seller share) and consideration paid; for instalments, 1% of each payment, true-up at last instalment
Where: Internal. Due: Before payment
File Form 141 Schedule B from buyer's login: e-File > e-Pay Tax > Income Tax Act 2025 > New Payment > Form 141
Where: https://www.incometax.gov.in. Due: Within 30 days from end of month of deduction
Pay TDS plus any interest and fee in the same flow
Interest 1% and 1.5% a month; fee ₹200 a day capped at TDS
Where: https://www.incometax.gov.in. Due: Same day
E-verify with DSC or EVC; save challan receipt and acknowledgement
Where: https://www.incometax.gov.in. Due: Same day
Register on TRACES as taxpayer and request Form 132 using PAN, acknowledgement and tax year
Where: https://traces.tdscpc.gov.in. Due: After processing
Sign and give Form 132 to the seller
Where: Email or hand. Due: Within 15 days of the Form 141 due date
DeliverablesWhat you get · 3 items
Form 141 challan receipt and acknowledgement
When: Same day
Form 132 certificate for seller
When: Within 15 days of Form 141 due date
TDS working sheet per buyer and seller
When: Same day
Questions people ask
Do I need a TAN to buy a flat?
No. Form 141 is filed with your PAN.
Can one form cover both my wife and me as buyers?
No. Each deductor files a separate form for their own share.
What is the month of deduction?
The month in which tax was actually deducted, which may differ from the year of the deal.
Where do I correct a mistake?
On TDS-TRACES, registering as a Taxpayer if needed.
Can Form 132 be issued without filing Form 141?
No. Form 141 must be filed and processed first.
Is the ₹50 lakh limit checked per buyer?
The source says it is tested at the property level.
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