TDS on property purchase Archives - Tax Heal https://www.taxheal.com/tag/tds-on-property-purchase Complete Guide for Income Tax and GST in India Thu, 14 May 2026 05:16:48 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.2 [VIDEO] HOW TO DOWNLOAD TDS CERTIFICATE FORM 132 PURCHASE OF PROPERTY https://www.taxheal.com/how-to-download-tds-certificate-form-132.html Wed, 13 May 2026 12:57:57 +0000 https://www.taxheal.com/?p=129717 New TDS CERTIFICATE FORM 132 PURCHASE OF PROPERTY | HOW TO DOWNLOAD | GUIDE INCOME TAX [VIDEO] HOW TO DOWNLOAD TDS CERTIFICATE FORM 132 PURCHASE OF PROPERTY Based on the video content, here is the summary  Summary This guide explains the procedure for downloading the new TDS Certificate Form 132 for property purchases exceeding ₹50… Read More »

]]> New TDS CERTIFICATE FORM 132 PURCHASE OF PROPERTY | HOW TO DOWNLOAD | GUIDE INCOME TAX

[VIDEO] HOW TO DOWNLOAD TDS CERTIFICATE FORM 132 PURCHASE OF PROPERTY

Based on the video content, here is the summary

 Summary

This guide explains the procedure for downloading the new TDS Certificate Form 132 for property purchases exceeding ₹50 Lakhs under the Income Tax Act 2025 (applicable from April 1, 2026). It covers the step-by-step process on the TRACES portal (tdscpc.gov.in), starting from logging in as a taxpayer to navigating the download section. The video highlights key changes, such as the requirement to first file Form 141 on the Income Tax website and the removal of password protection for the downloaded certificate. It also details the components of Form 132 (Parts A, B, and C) and warns of a ₹500 per day penalty for failing to issue the certificate to the seller on time.

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[VIDEO] HOW TO DOWNLOAD TDS CERTIFICATE FORM 132 PURCHASE OF PROPERTY

As of April 1, 2026, the procedure for TDS compliance on property purchases (exceeding ₹50 Lakhs) has undergone a significant overhaul with the introduction of the Income Tax Act 2025. The traditional Form 16B has been replaced by Form 132, and the filing process has moved to a unified system.

The New Filing Workflow

The most critical change is the transition from Form 26QB to Form 141. You can no longer download a TDS certificate without first completing this consolidated filing.

 

  1. Deduct & Deposit: Deduct 1% TDS at the time of payment to the seller.

  2. File Form 141: Submit this unified challan-cum-statement on the Income Tax Portal within 30 days from the end of the month in which the deduction was made.

  3. Wait for Processing: Once Form 141 is processed, the data is synced with the TRACES portal.

  4. Download Form 132: Log in to TRACES (tdscpc.gov.in) to download the final certificate for the seller.

Step-by-Step Guide to Download Form 132

Once your Form 141 has been processed (usually within a few days of payment), follow these steps on the TRACES portal:

  • Step 1: Login: Log in to the TRACES website as a Taxpayer.

  • Step 2: Navigate to Downloads: From the main dashboard, go to the “Downloads” menu and select “Form 132” (previously the Form 16B/16C/16D link).

  • Step 3: Enter Details: Select the relevant Assessment Year (e.g., 2026-27 for FY 2025-26), enter the Seller’s PAN, and the Acknowledgement Number of the Form 141 you filed.

  • Step 4: Request Download: Click on “Submit.” Your request will be assigned a “Request Number.”

  • Step 5: Final Download: After a few hours, go to Downloads > Requested Downloads. Once the status shows “Available,” click on the file to download the PDF.

Note: Unlike the old Form 16B, the new Form 132 certificates are often not password-protected, making them easier to share with sellers immediately after download.

Key Components of Form 132

The certificate is divided into three distinct parts to ensure transparency:

  • Part A: Summary of tax deposited and the unique transaction ID.

  • Part B: Detailed breakup of the property transaction, including address and total consideration.

  • Part C: Verification and digital/manual signature of the deductor (the buyer).

Penalties for Non-Compliance

The government has tightened the timeline for issuing these certificates. If you fail to provide Form 132 to the seller within 15 days of the due date for filing Form 141, you may face:

  • Late Fee: ₹200 per day under Section 234E for late filing of the statement.

  • Additional Penalty: A penalty of up to ₹500 per day can be levied for failure to issue the certificate to the deductee on time.

  • Interest: 1.5% interest per month for any delay in depositing the tax after deduction.

Form 132 Income Tax Rules 2026 pdf download

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[Video] HOW TO DOWNLOAD TDS CERTIFICATE PURCHASE OF PROPERTY NEW INCOME TAX ACT 2025

Form 132 Income Tax Rules 2026 pdf download and Key points

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]]> video HOW TO PAY TDS ON PROPERTY PURCHASE FROM 1ST APRIL 2026 I HOW TO FILE FORM141 INCOME TAX RULES 2026 https://www.taxheal.com/video-how-to-pay-tds-on-property-purchase-from-1st-april-2026.html https://www.taxheal.com/video-how-to-pay-tds-on-property-purchase-from-1st-april-2026.html#comments Wed, 01 Apr 2026 14:58:18 +0000 https://www.taxheal.com/?p=119592 HOW TO PAY TDS ON PROPERTY PURCHASE FROM 1ST APRIL 2026 I HOW TO FILE FORM141 INCOME TAX RULES 2026  HOW TO PAY TDS ON PROPERTY PURCHASE FROM 1ST APRIL 2026 I HOW TO FILE FORM141 INCOME TAX RULES 2026 Property purchase tds payment New Income Tax Rules 2026 Under the new Income-tax Act,… Read More »

]]> HOW TO PAY TDS ON PROPERTY PURCHASE FROM 1ST APRIL 2026 I HOW TO FILE FORM141 INCOME TAX RULES 2026

HOW TO PAY TDS ON PROPERTY PURCHASE FROM 1ST APRIL 2026 I HOW TO FILE FORM141 INCOME TAX RULES 2026

Property purchase tds payment New Income Tax Rules 2026

Under the new Income-tax Act, 2025 and Income-tax Rules, 2026, the rules for deducting and depositing Tax Deducted at Source (TDS) on the purchase of property are structured as follows:

1. Threshold and TDS Rate

When purchasing immovable property (other than agricultural land) with a consideration or stamp duty value of ₹50 lakh or more, the buyer is mandatorily required to deduct 1% TDS. This 1% tax must be calculated on the actual consideration amount paid for the property or the stamp duty value of the property, whichever is higher.

2. Form No. 141 (Replaces Form 26QB)

Buyers do not need to obtain a Tax Deduction and Collection Account Number (TAN) for this transaction. They can report and deposit the tax using their Permanent Account Number (PAN) via the new unified Challan-cum-Statement called Form No. 141. Specifically, buyers must fill out Schedule B of this form, which corresponds to the transfer of immovable property. (Note: Form 141 can only be used when buying from a resident seller. As discussed previously, buying from an NRI requires the buyer to obtain a TAN).

3. Due Date for Payment

The TDS amount must be deposited, and Form No. 141 must be filed electronically, within 30 days from the end of the month in which the deduction is made.

4. Rules for Multiple Buyers or Sellers

If the transaction involves joint buyers or joint sellers, the details of all parties along with their respective share percentages in the property must be reported.

  • If there are multiple resident sellers who share the same status (e.g., all are non-companies/individuals), the buyer only needs to file one single Form 141 that collectively includes all the sellers.
  • If the sellers have different statuses (e.g., one is a company and the other is an individual), the buyer must file separate forms—one for the company payee and one for the non-company payee.

5. Issuing the TDS Certificate (Form 132)

Once Form 141 is successfully processed and paid, the buyer must download the TDS certificate in Form No. 132 from the TRACES portal and issue it to the seller(s). This certificate must be issued to the seller within 15 days from the due date of filing Form 141.

6. Enhanced Tracking via Stamp Paper Purchases

To curb under-reporting of property values and illegal cash transactions, the government now tracks high-value stamp paper purchases. If a buyer purchases stamp paper worth ₹2,00,000 or more in a single transaction (or ₹1,00,000 or more if they do not have a PAN), the transaction will be automatically reported to the Income Tax Department by the Stock Holding Corporation of India Limited. If the reported stamp paper value suggests a property purchase price higher than what is declared, it will trigger an Income Tax notice.

7. How TDS  will be deposited if part payment made on or before 31st March 2026 and part payment made on or after 1st APril 2026

Question : This is Regarding 1% tds on property purchase under income tax. I have a query my part payment was done in feb 2026 and rest in may 2026 now i am confused which form to fill 26QB or 141.

As of April 1, 2026, the Income Tax Department replaced the old Form 26QB with a unified Form 141. Because your payments span across the old and new tax laws (Income Tax Act, 1961 and Income Tax Act, 2025), you must use both forms depending on when each payment was made.

Which Form to Use?

The governing rule is the date of payment or credit, whichever is earlier:
  • For the February 2026 Payment:
    • Form to Fill: Use the old Form 26QB.
    • Reason: Since the payment occurred before March 31, 2026, it falls under the old Income Tax Act, 1961.
    • Note: If you haven’t filed this yet, it is already overdue (due date was March 30, 2026) and will attract interest and late fees.
  • For the May 2026 Payment:
    • Form to Fill: Use the new Form 141 (Schedule B).
    • Reason: Any payment made on or after April 1, 2026, must be reported using Form 141 under the new Income Tax Act, 2025.
    • Due Date: You must file this by June 30, 2026 (within 30 days from the end of the month of deduction).

Key Differences Summary

Feature February 2026 Payment May 2026 Payment
Applicable Form Form 26QB Form 141
Governing Act Income Tax Act, 1961 Income Tax Act, 2025
TDS Certificate Form 16B Form 132
Due Date March 30, 2026 June 30, 2026

Important Filing Tips

  1. Multiple Forms: You must file a separate form for each installment.
  2. Access: Both forms are available on the Official Income Tax e-Filing Portal under the “e-Pay Tax” section.
  3. TDS Rate: The rate remains 1% for both payments, provided the seller’s PAN is valid.

Also refer

Form 141 Income Tax Rules 2026 pdf download (Earlier Form 26QB/26QC/26QD/26QD/26QR) New Income Tax Rules 2026

Form 132 Income Tax Rules 2026 Certificate under section 395(4) for tax deducted at source

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TDS ON PROPERTY

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