I have incorrectly filled 26 qb form and I am trying to make correction. The challan status shows as “Fully Consumed” but when I try to correct it, it shows error. What should I do?
Hii @Surbhi_Pal and other experts!
I’m facing an issue while filing Form 26QB for the last installment of my property payment. When I enter the previous installment amount (A) and the current installment amount (B), the system is automatically calculating the “Amount on which TDS is to be deducted (D)” as the entire property value, instead of just the last installment amount.
However, I only need to pay TDS on the last installment because I have already paid TDS for all previous installments through earlier 26QB forms.
If I manually calculate and pay 1% TDS only on the last installment amount (and not on the full property value, as the system is showing), will this be treated as a default or cause any issues later?
Hello @Rohit_Sharma,
You’re fine! You can manually enter the last-installment amount and proceed to pay TDS only on that. It won’t create any issues.
Just make sure the amount paid/credited field reflects only the final installment, since that’s the value on which TDS should be calculated. The system may display the total property value, but what matters is the amount you actually enter and pay TDS on.
Hope this helps!
Thanks @Diti_Savalia! I followed the same process.
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You can file Form 26QB online through the TIN or e-filing portal by entering buyer seller details, property info, TDS amount and paying. Download the generated acknowledgment afterwards.
For a property sale, I have paid first token amount in December and second token amount in January. Do I have to fill form 26QB two times or one time is enough as I will enter the totat sum value.
Hey @The_Laggy_Gamer,
Welcome to the community!
Yes, you need to file Form 26QB separately for each payment, which is for December and January.
Hope this helps.