TDS on Property in case of two buyers and sellers

 TDS on purchase of property.

 TDS @1% is deducted by the buyer of property if agreement value is 50 lakhs and above.

Seller must in Indian Resident.

Three steps to be completed

1. TDS Form 26QB filing and Tds Payment (Download TDS challana and Form 26QB Statement/Form)

2. Traces login Registration

3. downloading TDS Certificate form 16B.

Be careful in case of Joint Seller and Joint Buyers.

Be careful in case of Installments and Lumpsum type of payment.

Form 26QB Filings should be done separate for each buyer and seller.

Multiple TDS challan, Multiple Form 26QB and Multiple TDS Certificate form 16B generated.

If there is mistake in filing of form 26qb correction, then within subtantial time, we can file correction on Traces website.