Form 26QB or Form 141: which one your payment falls under
Your payment date decides the form. Form 26QB belongs to the Income-tax Act, 1961 and applies to deductions up to 31 March 2026. From 1 April 2026 the Income-tax Act, 2025 and the Income-tax Rules, 2026 are in force, and the same filing is made in Form 141 under section 393(1), Rules 218 and 219.
| Point | Payments up to 31 March 2026 | Payments from 1 April 2026 |
|---|---|---|
| Governing provision | Section 194-IA, Income-tax Act, 1961 | Section 393(1), Income-tax Act, 2025 (Table Sl. 3(i)) |
| Challan-cum-statement | Form 26QB | Form 141 |
| Certificate to the seller | Form 16B | Form 132 |
| Filed on | PAN of the buyer | PAN of the deductor |
| Due date | Within 30 days from the end of the month of deduction | Within 30 days from the end of the month of deduction |
| Late fee | Section 234E | Section 427 |
| Interest | Section 201(1A) | Section 398(3)(a) |
One form number now covers more ground. Form 141 replaces Form 26QB, Form 26QC (rent), Form 26QD (contract and professional payments by an individual or HUF) and Form 26QE (virtual digital assets), so the form you open is the same and the schedule inside it is what changes.
If your deduction straddles the date, for example a booking amount paid in March 2026 and instalments after April, the earlier deduction goes in Form 26QB and the later ones in Form 141. We check the deduction dates before filing anything.
When Form 26QB is the right form, and when it is not
Form 26QB is for a buyer of immovable property, other than rural agricultural land, where the consideration or the stamp duty value is ₹50 lakh or more. Tax is deducted at 1% of the sale consideration or the stamp duty value, whichever is higher.
| Your situation | The form |
|---|---|
| Buying property from a resident seller for ₹50 lakh or more | Form 26QB, now Form 141 |
| Paying rent above the monthly limit as an individual or HUF | Form 26QC, now Form 141 |
| Buying property from a non-resident seller | Not Form 26QB. The deduction is under the non-resident provisions and is reported in the quarterly statement, Form 27Q, now Form 144 (see TDS return filing). See TDS on property |
| Property value below ₹50 lakh, with no stamp duty value at or above ₹50 lakh | No deduction and no form |
| Buying rural agricultural land | Outside the provision |
Two points that decide whether the threshold is met. First, the test is on the value, and the department compares the consideration with the stamp duty value and takes the higher figure. Second, where there is more than one buyer or more than one seller, the consideration is the aggregate of the amounts paid or payable by all the buyers to all the sellers, so a flat at ₹80 lakh bought by two people is inside the provision even though each pays ₹40 lakh.
How many forms you file when there are two buyers or two sellers
One form per deductor, for that deductor's share. That is the rule people most often get wrong, and it is the reason a single transaction can need four filings.
| Transaction | Forms to file |
|---|---|
| One buyer, one seller | 1 |
| Two buyers, one seller | 2, one by each buyer for their proportionate share |
| One buyer, two sellers | 1 form, with both sellers shown, under the Form 141 regime for payments from 1 April 2026 |
| Two buyers, two sellers | 2 forms, one by each buyer, each showing both sellers, under the Form 141 regime |
| Payment in instalments | One filing for each deduction, with the earlier instalment amounts carried in the form |
The CBDT FAQ on Form 141 puts it directly: separate forms are required for each deductor for its proportionate share, and more than one deductee can be shown in one form. Under the older Form 26QB practice each buyer and seller combination was filed separately, so a two-buyer, two-seller sale up to 31 March 2026 meant four forms. If you are filing late for an older payment, count the forms on the old basis.
Each buyer files on their own PAN, from their own login, and each gets their own certificate to give to the seller.
What goes into the form
The form carries the parties, the property, the payment and the tax, and it generates a challan at the end, which is why it is called a challan-cum-statement. You file it on the e-filing portal, pay through e-Pay Tax, and no TAN is needed at any point: the department's own guidance says a deductor can use his PAN in place of TAN for this deduction. If you need a TAN for other deductions, see TAN registration.
| Block | What it asks for |
|---|---|
| Buyer | PAN, name, address, contact details, and whether there is more than one buyer |
| Seller | PAN, name, address, and whether there is more than one seller |
| Property | Full address, type of property, date of agreement or booking |
| Payment | Total value of consideration, stamp duty value, amount paid or credited now, amounts paid in earlier instalments, date of payment or credit, date of deduction |
| Tax | Rate, TDS amount, interest and fee where the filing is late, and the total payable |
The fields people get wrong
- Financial year and assessment year. Chosen by the date of payment, not the date you file. A March payment filed in April belongs to the earlier year.
- Total value of consideration against amount paid now. On an instalment purchase these are different numbers, and swapping them changes the tax and the seller's credit.
- Stamp duty value left blank. If it is higher than the price, it is the figure the 1% applies to.
- Seller's PAN. If the seller does not furnish a PAN, tax is deducted at 20%, not 1%. Get the PAN in writing before you pay.
- Date of deduction. This drives the 30-day clock and the interest computation.
The 30-day deadline
The tax deducted must be deposited through the form within 30 days from the end of the month in which the deduction was made. The end of the month, not the date of payment, starts the clock.
| Deduction made in | File and pay by |
|---|---|
| April | 30 May |
| May | 30 June |
| September | 30 October |
| December | 30 January |
| March | 30 April |
A deduction on 3 September and a deduction on 29 September share the same due date of 30 October. That is generous at the start of a month and tight at the end of it, which is where most defaults come from.
Late fee and interest, kept separate
These are two different charges and both can apply to the same delay. Neither is our fee: both are paid to the department.
| Charge | Amount | When it applies |
|---|---|---|
| Late filing fee | ₹200 for every day of delay, capped at the amount of tax deductible | The statement is filed after the due date. Section 234E of the 1961 Act, section 427 of the 2025 Act |
| Interest for failure to deduct | 1% a month or part of a month | You did not deduct when you should have. Section 201(1A) of the 1961 Act, section 398(3)(a) of the 2025 Act |
| Interest for failure to pay after deducting | 1.5% a month or part of a month | You deducted and deposited late |
A worked example
A flat is bought for ₹90 lakh from a resident seller. TDS is ₹90,000, deducted on 20 June, so the form is due by 30 July. It is filed on 29 August, 30 days late.
| Item | Amount |
|---|---|
| TDS deducted | ₹90,000 |
| Late fee at ₹200 a day for 30 days | ₹6,000 |
| Interest at 1.5% a month for 2 months, part months counted in full | ₹2,700 |
| Total paid to the department | ₹98,700 |
The fee is capped at the TDS amount, so on a small deduction the cap bites quickly. On a ₹50 lakh purchase the TDS is ₹50,000 and the fee stops growing after 250 days.
Form 16B, now Form 132, for the seller
The buyer issues the certificate, not the department. It must be issued within 15 days from the due date of furnishing the statement, and it is downloaded from TRACES after the filing has been processed.
The sequence is: file and pay the form, wait for it to be processed, register on TRACES as a taxpayer using your PAN and the filing details, download the certificate, and give it to the seller. For payments from 1 April 2026 the certificate is Form 132, issued from TRACES after the Form 141 filing is processed.
Sellers chase this certificate because it is their proof of the credit. If the credit is not showing against their PAN in Form 26AS or the AIS, the cause is almost always in the filing: a wrong PAN, a wrong year, or a payment that was never actually deposited.
Correcting a Form 26QB you have already filed
Yes, a filed form can be corrected, and most of the errors people panic about are fixable online. The buyer logs in to TRACES and raises a correction request on the filed form.
Under the 2025 Act a correction statement may be filed to rectify errors in any schedule within two years from the end of the tax year, per the CBDT FAQ on Form 141.
What can be corrected
TRACES allows correction of the PAN of the buyer, the PAN of the seller, the financial year, the amount paid or credited, the date of payment or credit, the date of deduction, the property details, the total value of consideration, the payment type, the total amount paid in earlier instalments, and the total stamp duty value of the property.
Whose approval a correction needs
| Correction | Approval needed |
|---|---|
| Seller's PAN, amount paid or credited, payment type, or total paid in earlier instalments | The seller's approval |
| Buyer's PAN and seller's PAN together | The seller's approval and the new buyer's approval |
| Seller's PAN together with the amount paid or credited | The Assessing Officer's approval |
| Buyer's PAN, seller's PAN and the amount together | The Assessing Officer's approval |
Where the correction goes to the Assessing Officer, TRACES asks for a hard copy of the correction acknowledgement with identity proof, the PAN card, the property transfer documents and proof of the payment made through the challan. That is a queue and a paper submission, so it is worth getting the seller's PAN and the amount right the first time.
A second correction on the same form follows the same approval pattern. We handle the request, the seller's approval and the Assessing Officer submission where it is needed.
If the seller is an NRI
Form 26QB is not the route. The deduction on a payment to a non-resident is made under the non-resident provision, at rates that apply to the seller's capital gains rather than a flat 1%, and it is reported in the quarterly statement (Form 27Q, now Form 144) rather than in a challan-cum-statement.
The seller can reduce the deduction with a lower or nil deduction certificate in Form 128 under section 395, obtained before the transaction. There is also a change to the TAN position for resident individual and HUF buyers from 1 October 2026.
Both are covered on TDS on property, and the certificate route on lower tax deduction certificate and lower TDS certificate for NRI sellers. If you are the NRI seller and want the excess deduction refunded, see NRI income tax return filing. For the seller's own tax on the gain during the year, see advance tax.
Government fee and our fee
There is no government fee to file the statement. You pay only the TDS, and any late fee or interest that has arisen.
| Fee | Amount |
|---|---|
| Regikart professional fee, Form 26QB or Form 141 filing | Fee on quote after a free review |
| Regikart professional fee, correction on TRACES | Fee on quote after a free review |
| Government fee to file the statement | No government fee |
| Full property TDS service, including the deduction working and the certificate | From ₹1,999, see TDS on property |
Professional fees exclude GST at 18%. Government fees, where they apply, are paid at actuals to the department and are shown separately. Fees verified on 27 September 2026.
Some payment modes on the portal carry bank or gateway charges, which you bear. The TDS, the late fee and the interest are paid by you to the department and are not part of our fee.
How we file it
- Read the agreement. Consideration, stamp duty value, the number of buyers and sellers, the payment schedule, and the seller's residential status. If the purchase is still being structured, see tax planning.
- Confirm the amount and the count. How much to deduct, on which figure, and how many forms that means.
- File and pay. We prepare the form, you approve the figures, and the payment is made through the portal on your PAN.
- Get the certificate out. We register you on TRACES if needed, download the certificate once the filing is processed, and send it to the seller.
- Fix what is already filed. Where a form is wrong, we raise the correction, chase the seller's approval and prepare the Assessing Officer submission where the law asks for one.
Documents we need
| Item | Why |
|---|---|
| Sale agreement or allotment letter | Consideration, parties, property details, payment schedule |
| Stamp duty value from the registration papers or the circle rate | The 1% applies to the higher of price and stamp duty value |
| PAN and address of every buyer | One form per buyer, each on their own PAN |
| PAN and address of every seller | A missing PAN takes the rate to 20% |
| Payment proof for each instalment | Date of payment fixes the year and the due date |
| Seller's residential status, with supporting papers where the seller is an NRI | Decides whether this form applies at all |
| Earlier challans and acknowledgement numbers | Needed for instalments, for the certificate and for any correction |
Income-tax Act, 1961 and Income-tax Act, 2025
A deduction made up to 31 March 2026 is governed by the Income-tax Act, 1961: section 194-IA, Form 26QB, Form 16B, the section 234E fee and section 201(1A) interest.
A deduction made on or after 1 April 2026 is governed by the Income-tax Act, 2025 and the Income-tax Rules, 2026: section 393(1), Form 141 under Rules 218 and 219, Form 132 as the certificate, the section 427 fee and interest under section 398(3)(a).
Corrections for older periods stay on the older form. We file on the basis of the deduction date, which is the only date that matters for this choice. For the return itself, see income tax return filing.
Why buyers use Regikart for this filing
Regikart is a CA and CS firm serving 250+ clients from offices in Kolkata (head office), Delhi and Bengaluru. Every property TDS filing is prepared and reviewed by a Chartered Accountant.
- The count is right. One form per buyer, for the proportionate share, with the sellers shown correctly. This is where most defaults and corrections begin.
- Both figures checked. Consideration and stamp duty value, with the 1% applied to the higher one.
- Corrections handled end to end. The TRACES request, the seller's approval and the Assessing Officer paperwork.
- The certificate actually delivered. Sellers do not have to chase you for it.
- The same team afterwards. If a notice or a demand follows, income tax notice reply answers it.