Hi there,You are asking about how to pay TDS on property, before answering that I will definitely mention what is TDS on property and who deducts TDS on property. According to Finance Bill 2013, the government said that if an individual purchases an immovable property (other than agricultural land) which costs more than Rs. 50 lakhs then they are liable to pay the tax at the rate of 1% from consideration payable to resident transferor. In this transaction, the buyer of the property should deduct TDS and deposit it to the government.How to pay TDS on property online?You can pay TDS on property online by visiting the official website of Tax Information Network or https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp.Here is the detailed procedure to pay TDS on property online:
Go to ‘TDS on Property (Form 26QB)’ and click on Proceed tab.
Upon clicking on it, you will be redirected to a new form where you will have to enter details like Taxpayer information, Address, Property Details, and Payment Information.
Note: If you are a corporate payer, choose 0020, if you are non-corporate payer then choose 0021 in the form.
Proceed and enter details like PAN details of both buyer and seller, address of the two parties and address of the property in question.
The payment can be done online via e-challan or you can visit the bank to make payment.
This is how to pay TDS on property online. I hope you now know the complete process.
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How to pay TDS on property?
Yogita Sharma
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May 5, 2021
2021-05-05T15:21:25+00:00 2021-05-05T16:15:23+00:00Comment
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