Overview of TDS on Sale of Property

When you sell a property in India, the buyer is required to deduct 1% of the sale consideration as TDS (Tax Deducted at Source) if the sale price exceeds ₹50 lakh. This TDS is then deposited with the government. Dhanvitt offers end-to-end solutions to help buyers file TDS accurately and within the due date, ensuring compliance with tax laws and avoiding penalties.

TDS Deduction and Payment Process

The TDS is deducted by the buyer at the time of making the payment to the seller. This amount must then be deposited with the government using Form 26QB within 30 days from the end of the month in which the deduction was made. Dhanvitt assists in preparing and submitting this form and ensures that the process is completed smoothly.

TDS Certificate (Form 16B)

After depositing the TDS, the buyer needs to generate Form 16B, which acts as the TDS certificate. This certificate must be issued to the seller as proof of TDS deduction. Our team helps in downloading and delivering Form 16B to the seller in a timely manner.

Why Choose Dhanvitt for TDS on Property Sale?

• Expert Assistance: Our experienced professionals ensure that all TDS filings are accurate and compliant with regulations.
• End-to-End Service: From TDS calculation to Form 26QB submission and Form 16B generation, we handle it all.
• Timely Filing: We ensure all filings and payments are done within the prescribed timelines, avoiding late fees and penalties.
• Comprehensive Support: Our team provides continuous support for any queries or concerns during the entire TDS process.

Documents Required for TDS Filing on Property Sale

To ensure smooth TDS filing, the following documents are required:

• Sale agreement or property sale deed
• PAN of the buyer and seller
• Details of the property being sold (address, sale price, etc.)
• Bank details for payment of TDS
• Challan and payment receipt of TDS (for record purposes)