TDS ON SALE OF PROPERTY – Services

TDS on the Sale of Property in India is a significant provision under Income Tax Act, and we provide specialized service for this purpose.

Tax Deduction at Source (TDS) is applicable on the sale of immovable property (land, building or both) in India. There is a threshold limit for TDS deduction:

1. For Resident Sellers – TDS is applicable only if the sale consideration exceeds 50 Lakh Indian Rupees.
2. For Non-Resident (NRI) Sellers – There is no threshold limit for TDS deduction

Filing Form 26QB

– The buyer needs to file Form 26QB after deduction of TDS amount as per applicable law.

– Both the Buyer and the Seller must have a permanent Account Number (PAN). The Buyer is required to furnish Seller’s PAN to the Income Tax Department for TDS compliance.

– We assist you deduct TDS, deposit TDS amount in Govt account and then file Form 26QB to obtain Form 16B Certificate to be furnished to the Seller.

It is crucial for both the Buyer and the Seller to understand the TDS provisions applicable to sale of property and ensure compliance with the relevant tax laws to avoid penalties or any legal issues.

For cost of services and any other query regarding TDS on Sale of Property, kindly feel free to contact us.
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