If you bought property on or after 1 April 2026 and are looking for Form 26QB, it no longer exists. The Income Tax Department has replaced it with Form 141, Schedule B – and the filing process, the fields, and even the TDS certificate have all changed. Download Form 141 PDF before you start, then come back here and follow each step carefully.
Important: Form 141 is filed online only at incometax.gov.in. There is no offline option or paper submission.
How to File Form 141 for TDS on Property Purchase – Step by Step Guide 2026-27
WHEN TO FILE (With Example)
Ravi bought a flat in Pune for Rs 78 lakh in April 2026. He paid the seller Rs 30 lakh on 10 April and agreed to pay the remaining Rs 48 lakh in two instalments. Since the total consideration exceeds Rs 50 lakh, TDS applies. Ravi must deduct 1% TDS from each payment, file a separate Form 141 Schedule B for each instalment, and deposit the TDS by 31 May 2026 for the April payment. He is the deductor. The seller is the deductee. If Ravi’s wife is also a co-buyer with a 50% share, she must file her own Form 141 separately – joint buyers cannot share one form.
DOCUMENTS NEEDED
- Your PAN must be active and linked with Aadhaar before you log in
- Seller’s PAN – all sellers if there are multiple; corporate PAN if seller is a company
- Complete address of the property being transferred
- Date of the sale agreement
- Date of registration if the property is already registered
- Total stamp duty value as assessed by the state authority – do not proportionate this even if there are multiple sellers
- Total sale consideration – do not proportionate even for multiple sellers or buyers
- Payment amount for this specific instalment if paying in parts
- Previous Form 141 acknowledgement number – mandatory for second and subsequent instalments
- Lower deduction certificate number under Section 395(1) – only if the seller holds one issued by the Assessing Officer
STEP BY STEP – SCHEDULE B (PROPERTY PURCHASE)
Step 1: Log in to the e-Filing Portal
Go to incometax.gov.in and log in using your PAN and password. If your PAN is not linked with Aadhaar, the portal shows a pop-up marking your PAN as inoperative. Fix this first – you cannot proceed without an active PAN.
Step 2: Go to e-Pay Tax
On your dashboard, click e-File, then click e-Pay Tax. The portal takes you to the Act Selection screen.
Step 3: Select Income Tax Act 2025 and Click New Payment
On the e-Pay Tax page click New Payment to create a new challan form. Existing Form 26QB records appear under the old Act – do not touch those.
Step 4: Select the Form 141 Tile
On the New Payment page find the Form 141 tile – Challan-cum-statement of deduction of tax under Section 393(1). Click Proceed.
Step 5: Select Deductee Type
A pop-up asks you to choose Corporate Deductee or Non-Corporate Deductee. Select based on who the seller is. If the seller is a company, choose Corporate. If the seller is an individual or HUF, choose Non-Corporate. If you have both types of sellers in the same transaction, you must file two separate Form 141 filings – one for each deductee type.
Step 6: Fill the Common Deductor Screen
Your name, address, and PAN are auto-filled from your profile. If anything looks wrong, stop here and update your profile first – you cannot edit these fields directly. Then fill:
- Tax Year of Transaction: The year in which the transaction occurred. For April 2026 onward, enter 2026-27.
- Month of Deduction: The month in which you paid or credited the seller – for example, April.
- Nature of Transaction: Select Schedule B from the dropdown – TDS on transfer of immovable property under Section 393(1) Table Sl. No. 3(i).
Click Continue.
Step 7: Enter Property and Transaction Details (Schedule B Fields)
Field 1 – Type of Immovable Property
Select Land or Building using the radio button.
Field 2 – Address of the Property
Enter the complete address of the property being transferred or proposed to be transferred.
Field 3 – Date of Agreement
Enter the date the sale agreement was signed in DD-MMM-YYYY format.
Field 4 – Date of Registration
Enter only if the property is already registered. Leave blank if registration is pending.
Field 5 – Total Stamp Duty Value
Enter the full stamp duty value as assessed by the state authority. Do not divide or proportionate this even if there are two or three sellers. Enter the full amount.
Field 6 – Total Value of Consideration
Enter the full sale price agreed upon. Do not proportionate for multiple buyers or sellers. TDS applies only if this exceeds Rs 50 lakh in total.
Field 7 – Mode of Payment
Select Lumpsum if the full amount is being paid now. Select Instalments if you are paying in parts.
Field 8 – Instalment Type (only if you selected Instalments)
Select First Instalment for the first payment, Subsequent Instalment for payments in between, and Last Instalment for the final payment.
Field 9 – Previous Acknowledgement Number (for Subsequent or Last Instalment)
Enter the acknowledgement number from the last Form 141 you filed for the same property. Not applicable for the first instalment.
Field 10 – Total Consideration Paid Including Current Instalment (Last Instalment only)
Enter the cumulative total of all payments made including this one. Enabled only when you select Last Instalment.
Field 11 – Details of Buyer
Your details are auto-filled in the first row. Enter your proportion of ownership – for example 50% if you and your wife are equal co-buyers. If there are multiple buyers, click Add Details and enter each buyer’s name, PAN, and share percentage. Total share across all buyers must equal 100%.
Field 12 – Details of Seller (Deductee)
Enter name, PAN, and proportionate share of all sellers regardless of whether they are corporate or non-corporate. Total share must equal 100%.
Field 13 – Transaction Details (Annexure II)
This table captures the actual TDS calculation per seller:
- PAN of Seller: Select from dropdown – only corporate PANs appear if you chose Corporate Deductee, and only non-corporate PANs if you chose Non-Corporate Deductee.
- Name of Seller: Auto-fills based on PAN.
- Proportionate Stamp Duty Value: Auto-calculated for Lumpsum and Last Instalment as Total Stamp Duty Value multiplied by Buyer’s share multiplied by Seller’s share.
- Total Amount Paid in Previous Instalments: Enter the total of all prior payments to this seller. Enabled for Subsequent and Last Instalments only.
- Amount Paid in Present Transaction: Enter the current payment amount to this seller.
- Amount on Which Tax is to be Deducted: Auto-calculated but editable. For Lumpsum or Last Instalment, the system picks the higher of the Proportionate Stamp Duty Value or the sum of present and previous instalments. For First and Subsequent Instalments, it defaults to the current payment amount.
- Section 395(1) Applicable: Select Yes only if the seller holds a lower deduction certificate from the Assessing Officer.
- Certificate Number under Section 395(1): Enter the certificate number if you selected Yes above.
- Rate at Which Tax is Deducted: Enter 1 for standard property TDS. If the seller’s PAN is not available, the portal auto-fills a higher rate.
- Amount of Tax Deducted: Auto-calculated as Amount on Which Tax is to be Deducted multiplied by Rate. Rounded to the nearest rupee.
- Date of Deduction: Select from the restricted calendar, which opens based on the month of deduction you selected earlier. You cannot pick a date outside that month.
Click Save. The row appears in a table below and remains editable.
Field 14 – Tax Deposit Details
- Amount on Which Tax is Liable to be Deducted: Auto-filled from the sum of Column F across all sellers.
- Amount of Tax Deducted at Source: Auto-filled from the sum of Column J across all sellers.
- Interest and Fee: Enter manually if there is a delay in payment. Interest applies at 1% per month for non-deduction and 1.5% per month for non-deposit.
- Total Payment: Auto-calculated combining TDS, interest, and fee.
Step 8: Select Payment Mode
Choose Net Banking, UPI, or Debit Card. Click Continue.
Step 9: Preview and Pay
Review every detail on the preview screen. Click Edit if anything is wrong. Once satisfied, click Pay Now. You are redirected to your bank’s payment gateway.
After successful payment:
- Download and save the Challan Receipt immediately. It contains BSR Code, Date of Payment, and Challan Serial Number – you need these if any correction is required later.
- The portal also generates a Form 141 Acknowledgement. Save this as well.
- Both are accessible later under Payment History on the e-Pay Tax page.
Step 10: Issue Form 132 to the Seller
After filing, download Form 132 from TRACES and give it to the seller. The deadline is within 15 days from the due date of filing Form 141. Form 132 is the new TDS certificate replacing the old Form 16B.
COMMON MISTAKES SPECIFIC TO FORM 141 SCHEDULE B
- Entering proportionate stamp duty value: Field 5 asks for the full stamp duty value of the entire property. Do not divide it by the number of sellers. The portal calculates proportionate values in the transaction table automatically.
- Wrong deductee type selection: If the seller is an individual and you selected Corporate Deductee, the seller’s PAN will not appear in the dropdown. You must go back and start again with a new form.
- Filing one form for both corporate and non-corporate sellers: If two sellers of the same property are an individual and a company, you must file two separate Form 141 filings – one per deductee type.
- Missing previous acknowledgement number for subsequent instalments: If you skip Field 9 for a second instalment, the portal cannot link it to the first filing. This creates a mismatch in TDS records.
- Using the amount paid as the TDS base for the last instalment when the stamp duty value is higher: The portal computes the higher of the stamp duty value or the consideration for Lumpsum and the last instalment. If you manually override this to a lower figure, TDS will be short-deducted, and you become liable for interest.
- Not issuing Form 132 to the seller within 15 days: Many buyers file and pay, but forget this step. The seller cannot verify TDS in their Form 168 AIS without it.
WHAT HAPPENS AFTER SUBMISSION
You file Form 141 and pay TDS on the portal. The portal confirms payment via email and SMS and generates the Challan Receipt and Form 141 Acknowledgement. The TDS payment is credited to the government. You then download Form 132 from TRACES and give it to the seller within 15 days from the filing due date. The seller verifies that the TDS credit appears in their Form 168 – the Annual Information Statement – which works the same way as the old Form 26AS. If the TDS does not reflect in Form 168 within a few weeks, it usually means the PAN entered was incorrect or the challan details were not matched by the system. In that case, a correction filing is required – currently through the portal using the original acknowledgement number.
DOWNLOAD AND RELATED LINKS
Download the official Form 141 PDF from the Form 141 download page before you start filing.
Form 132 – New TDS certificate you must issue to the seller after filing. Replaces Form 16B.
Form 121 – If you are the seller with nil tax liability, submit this to your bank to prevent TDS on interest income from the sale proceeds.
Form 26QB – Still applicable if your payment to the seller happened on or before 31 March 2026.
Apply for PAN or update your PAN details before filing if your PAN is inactive or your Aadhaar is not linked.
My property cost Rs 48 lakh. Do I still need to file Form 141?
TDS applies only if the total sale consideration is Rs 50 lakh or more. At Rs 48 lakh the threshold is not crossed and no TDS is required, so Form 141 is not applicable for your transaction.
I selected the wrong deductee type – Corporate instead of Non-Corporate. Can I correct it?
No, you cannot edit the deductee type on a filed form. You need to file a fresh Form 141 with the correct deductee type. If TDS was already deposited under the wrong type you will need to file a correction using the original acknowledgement number and contact the TDS helpline.
We are three buyers of the same property. Does each buyer file a separate Form 141?
Yes. Each buyer files their own Form 141 for their share of TDS. One buyer cannot file on behalf of others. Enter your own proportion in the buyer details and calculate TDS on your share of the payment.
Q4. The seller has a lower deduction certificate. Where do I enter this in Form 141?
In the Transaction Details table under Annexure II, find the field Section 395(1) Applicable and select Yes. Then enter the certificate number in the next field. The system will apply the reduced rate from the certificate.
What is the difference between Total Stamp Duty Value and Total Value of Consideration in Field 5 and Field 6?
Stamp Duty Value is the value the state government assigns to the property for stamp duty calculation. Consideration is the actual price you agreed to pay the seller. These two numbers are often different. TDS is calculated on whichever is higher for Lumpsum and Last Instalment payments.
I paid in two instalments. Do I file two separate Form 141 filings?
Yes. One for the first instalment and one for the second. For the second filing select Subsequent Instalment or Last Instalment at Field 8 and enter the acknowledgement number from the first filing at Field 9.
When exactly do I issue Form 132 to the seller and where do I get it?
Download Form 132 from the TRACES portal after your TDS payment is reflected there. Issue it to the seller within 15 days from the due date of filing Form 141. For example if your Form 141 was due on 31 May, issue Form 132 by 15 June.
The seller’s TDS is not showing in their Form 168. What do I do?
First check that the seller’s PAN was entered correctly in your Form 141. Then verify your challan details – BSR code, date, and serial number – match the payment record. If the PAN was wrong, a correction filing is required. If the PAN was correct, allow 30 days from payment for the system to update before raising a concern on the TRACES portal.