CA Ashish Arora 

CA Ashish AroraThe Finance Bill 2013 has proposed that purchaser of an immovable property (other than rural agricultural land) worth Rs 50 lakh or more is required to pay withholding tax at the rate of 1% from the consideration payable to a resident transferor. Form 26QB is an internet based PAN challan( minor head 800) containing details of buyer, Seller, property being sold, sale consideration, tax deposit details etc. Various instances are seen were some or other attribute of challan is wrongly mentioned and credit of TDS deducted is not reflected in Form 26AS. Following procedure shall be followed for correction of Challan:

1. Correction will only be allowed on the following challan attributes:

a) Buyer PAN

b) Seller PAN

c) Assessment Year

d) Major Head[ i.e. 20(corporate) and 21(Non-corporate)]

2. No correction will be allowed for change of Minor Head (i.e. from minor head 800 to other taxes having minor heads 100, 200, 300 etc or vice versa) or Amount.

3. The buyer of the property will submit an application requesting for correction in Form 26QB challan to the PAN Assessing Officer as per the jurisdiction of the buyer’s PAN.

4. The buyer encloses a copy of the no objection letter from the seller on the affidavit (in original) along with such application.

5. Then the application along with affidavit will be submitted to the jurisdictional CIT of the AO through Range Head.

6. The Correction made if any will be reflected in Form 26AS of the seller.

Also Read- TDS on Purchase of Immovable Property – FAQ , Payment Procedure

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Category : Income Tax (25480)
Type : Articles (14949) Featured (4125)
Tags : Form 26AS (54) pan number (260) section 194I (45) TDS (918)

26 responses to “Correction in Form 26QB Challan (TDS on Sale of Property)”

  1. Ronney D'silva says:

    I made an online payment towards form 26QB but instead of paying the Fees, I paid the Income Tax by mistake. How do I get this corrected

  2. Sandhya says:

    Buyer of the property has made the TDS payment and is reflecting in TIN – NSDL but not in TRACES website for the Seller.
    Buyer has made 1 % TDS pymt under 194LA – Payment of Compensation on acquisition of property as nature of payment but has mentioned AY incorrect.

    How is the correction to be made here?
    Not sure if buyer has done online form 26QB.
    How can this be reflected in Seller TRACES?

  3. PRASHANT DIXIT says:

    Sir,
    IF ANYBODY PAYS LESS AMOUNT WHILE DOING THE PAYMENT THROUGH INTERNET BANKING MODE, HOW THEY CAN PAY THE REMAING AMOUNT.
    i.e., THE AMOUNY IS 11,25,301.05, BASED ON THAT THE 1% TDS IS 11,254 BUT YOU ENDED UP PAYING 11,253.

    HOW CAN WE RECTIFY THIS.

    THANKS AND REGARDS

  4. SASIKUMAR S says:

    While making the TDS on Sale of property through online payment Form 26QB we have made the mistakes instead of buyer column filled in the seller column vice versa, pl advice me what is the procedure to rectify the TDS

  5. deep shah says:

    I deducted tds of the nri for bought of property. And I sibmitted the 26QB instead of 27Q . Now, What i required to do so that properly submitted .

  6. Sudheendra says:

    I made a mistake while making the TDS payment on sale of property. I had paid the payment using the old paid Form 26QB acknowledgement instead of the new one. How to correct and settle the same?

  7. rajesh govindan says:

    Karnataka house board allotted a site for me and paid full amount without 1% TDS deduction as per their allotment letter. Full amount paid to KHB on 17th June 2015. KHB registered the property in my name on 31st December 2015. I have paid 1% TDS on 26th December as our sale deed was executed by KHB on 26th December,2015 by Executive Engineer. While filing TDS I mentioned date of payment as 17th June. Got the Refund of 1% TDS from KHB after the property registration. Today I received a notice for defaults u/s 200A section to pay the penalty. Is it allowed to change date of payment as 26th December instead of 17th June? This is case for all allocate for KHB sites. Please advice

  8. rajendra mundada says:

    By mistake – buyer is mentioned as seller and seller is mentioned as buyer while making payment of TDS for purchase of property. How the same to be correctd

  9. Harsh Jasrotia says:

    Hi Ashish,
    a. I have wrongly entered interest amount of Rs. 250 in penalty section of form 26qb? Is it possible to rectify the same?
    b. Also the tds to be paid is for an installment paid in Nov 2014. Would I still entitled for credit from builder as I would be submitting the certificate in May 2016?

  10. Sumit Kumar Gogawat says:

    Sir, We have received notice for late payment of interest. we already paid this demand but want to know how can we rectify or cancel the demand after making payment. Please help

  11. Prabakaran says:

    i can submit 26 QB FOR MONTH OF SEP 2015 WRONGLY FILED MINOR HEAD CODE 800( OTHER THAN RECEIPT) NOW I CAN RECTIFIED PROBLEM PLEASE BE EXPALIN
    SEND MAIL : ramsmds@yahoo.com

  12. ajat says:

    U contact the income tax officer, they have to forward ur application to their commissioner for correction of pan.

  13. Hetal Maru says:

    I have made a payment to a non resident for purchase of immovable property. The TDS has been rightly deducted and at the time of making payment for TDS, the section code was mentioned as 194IA instead of Section 195.

    How do I rectify the same.

  14. Pratiksha says:

    hello, I have submitted the request for correction in sept 2015. But it is still not reflecting in the sellers records.. how long does it take for the assessment officer to correct it?

  15. Archie says:

    I have interchanged the buyer and seller details completely in my 26QB. Can anything be done to rectify the same?

  16. jeetendra dhanuskar says:

    i have made mistake in pin code of property that i am buying.Will it matter much. is their any way i can rectify it.

  17. Shashank Agarwal says:

    Hi,

    I have mentioned wrong assessment year in my 26qb form..please help..
    also is that affidavit from seller mandatory?

  18. Shashank Agarwal says:

    Hi,

    I have entered wrong financial year and hence assessment year for 2 of my and 2 of my wife’s 26QB forms.

    How can i get it rectified? Is the affidavit from seller mandatory? Please help- 9619209040/shashankagarwal@outlook.com

  19. GR says:

    Can 26QB be used for payments on purchase of property for NRI also (u/s 195 not u/s 194IA), or should 281 be used for that in which case TAN has to be obtained even if buyer is an individual.

    Thanks.

  20. ganeshan says:

    Which component of the consideration is required to be considered for deduction of TDS.

  21. ketan says:

    Sir,
    If anybody bymistakely made part payment under TAX and Part in Interest before 1 year then what to do? Even TDS Officer is refusing to make correction in system such option is non available…

    • Ashish Arora says:

      Directorate of income tax (systems) allow correction in the following challan attributes only:
      a) Buyer PAN
      b) Seller PAN
      c) Assessment Year
      d) Major Head[ i.e. 20(corporate) and 21(Non-corporate)]

      • Ashish Arora says:

        Ketan i found one tutorial on traces website for correction in form 16B by buyer. By following the instruction of tutorial you can make correction in tax and interest amount.
        follow below link:

        contents.tdscpc.gov.in/en/download-request-form16b.html

  22. ANKIT GUPTA says:

    Gr8 job

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