Correct Deduction. Smooth Property Transaction. No Notices.
TDS on property purchase is often overlooked—but it’s a mandatory compliance for buyers.
Missing or incorrect TDS deduction can lead to penalties, interest, and issues during property registration or future sale.
At N D Savla & Associates, we ensure proper deduction, accurate filing, and complete compliance under Section 194IA.
What is TDS on Property Purchase?
Under Section 194IA, buyers must deduct TDS when purchasing immovable property exceeding ?50 lakh.
The responsibility lies entirely on the buyer to deduct, deposit, and file TDS correctly.
- Applicability check under Section 194IA
- Calculation of TDS (1%)
- Filing of Form 26QB
- Generation of Form 16B
- Compliance support for multiple buyers/sellers
Applicability
- Property value exceeding ?50 lakh
- Applicable on residential and commercial property
- Buyer responsible for deduction
Documents Required
- Sale agreement
- Buyer and seller PAN details
- Property details
- Payment schedule
Risks of Non-Compliance
- Interest on late deduction/payment
- Penalty and late fees
- Issues during property registration
- Notices from Income Tax Department
Process
- Checking applicability
- Calculating TDS amount
- Filing Form 26QB
- Generating Form 16B
- Providing compliance support
Why Choose N D Savla & Associates?
Property Expertise
Handling TDS for property transactions accurately.
Timely Filing
Avoid penalties and compliance issues.
End-to-End Support
Complete handling from deduction to certificate.
Frequently Asked Questions
What is TDS on property purchase?
It is tax deducted by the buyer under Section 194IA.
Who deducts TDS?
The buyer is responsible for deduction and filing.
What is the rate?
Generally 1% of property value.
What is Form 26QB?
It is the form used for TDS payment and filing.
Which firm is best for TDS on property?
N D Savla & Associates provides reliable TDS services.