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TDS on property purchase, Form 141 Schedule B (earlier 26QB)

  • If you buy a property worth ₹50 lakh or more, you must cut 1% TDS from the payment and deposit it with Form 141.
  • Deadline: 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.
  • Done in Same or next working day after agreement and payment details
  • Prepared by your Savvy, checked by a CA
  1. Buyer PAN and e-filing login
  2. Is the seller a resident or an NRI?
  3. Compute TDS per buyer and seller
  4. Form 141 challan receipt and acknowledgement
The law and the stepsPay and start · ₹1,499Per payment (lump sum or each instalment), + 18% GST

Answer in brief

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.

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From the official sources

What the law says, and what trips people up

From the official portal's manuals and FAQs, with the source for each point.

The law

  • Income-tax Act 2025, Sec 393(1), Table Sl. No. 3(i) (old Sec 194-IA)

    TDS on transfer of immovable property other than agricultural land; Form 141 Schedule B uses this entrySource

  • Income-tax Act 2025, Sec 397(1)(c)(i)

    No TAN needed for deductions under Sec 393(1) Table Sl. 3(i)Source

  • Income-tax Rules 2026, Rule 219(5)

    Form 141 challan-cum-statement due within thirty days from the end of the month of deductionSource

  • Income-tax Act 2025, Sec 395(4) with Rule 215 (old Form 16B)

    Form 132 certificate to the seller within 15 days of the Form 141 due dateSource

  • Income-tax Act 2025, Sec 398(3)

    Interest 1% a month for late deduction, 1.5% a month for late paymentSource

  • Income-tax Act 2025, Sec 397(2)

    Higher rate (at least 20%) if the seller's PAN is not furnishedSource

  • Government fee

    No filing fee. TDS at 1% of the higher of consideration or stamp duty value (https://taxroutine.com/?p=8153, https://busy.in/tds/tds-on-property-transactions-stepwise-guide-with-form-26qb-16b/).

  • Late fee or penalty

    Late filing fee ₹200 per day after the due date, capped at the TDS amount, under Sec 427 (https://taxroutine.com/?p=8153; section text https://www.incometaxindia.gov.in/w/section-427-5). Interest under Sec 398(3): 1% and 1.5% a month (https://www.incometaxindia.gov.in/w/section-398-5).

On the portal

  1. Login to the e-filing portal with buyer's PAN (PAN must be active and Aadhaar-linked)
  2. e-File > e-Pay Tax > select Income Tax Act 2025 > New Payment > Form 141 tile > Proceed
  3. Choose Corporate or Non-Corporate deductee (4th PAN letter C means corporate)
  4. Enter tax year, month of deduction, and select Schedule B
  5. Enter property type, address, date of agreement, stamp duty value, total consideration, lump sum or instalment
  6. Add buyer and seller shares; add one transaction row per seller with amount, rate and date of deduction
  7. Choose payment mode, preview, Pay Now; then e-verify with DSC or EVC
  8. Download challan receipt; later request Form 132 on TRACES

What trips people up

  • Wrong seller PAN entered

    Correct through TRACES as taxpayer; corrections are not made on e-filingSource

  • Chose the Demand Payment variant of Form 141 for a fresh filing

    Use the plain Form 141 tile; Demand Payment is only for paying defaultsSource

  • Corporate and non-corporate sellers on one form

    File separate forms for each deductee typeSource

  • Co-buyer assumed covered by the main buyer's form

    Each buyer files Form 141 for their own shareSource

  • Lost previous acknowledgement for instalments

    Find it under e-Pay Tax > Payment History; keep it for each later instalmentSource

  • Filed form not showing in Payment History

    Raise a grievance on the e-filing portalSource

People ask

Do I need a TAN to buy a flat?

No. Form 141 is filed with your PAN.Source

Can one form cover both my wife and me as buyers?

No. Each deductor files a separate form for their own share.Source

What is the month of deduction?

The month in which tax was actually deducted, which may differ from the year of the deal.Source

Where do I correct a mistake?

On TDS-TRACES, registering as a Taxpayer if needed.Source

Can Form 132 be issued without filing Form 141?

No. Form 141 must be filed and processed first.Source

Is the ₹50 lakh limit checked per buyer?

The source says it is tested at the property level.Source

IDFD

How we solve it: 4 steps

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Step 1 of 4 · What we need from you

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  • Buyer PAN and e-filing login
  • Seller name and PAN
  • Sale agreement with date
  • Stamp duty value
  • Full property address
  • Payment schedule and dates
  • Co-buyer and co-seller shares
  • Previous acknowledgement numberOptional
  • Seller's lower deduction certificateOptional

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Per payment (lump sum or each instalment). 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.

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