Hi @amar3047
The value of consideration should be X
And the amount paid should be X/3.
For expert assistance, you can book a MEET
Hi @Anokhi_Shah
Here’s a read on form 16B for your reference. Form 16B : Certificate of TDS on Sale of Property - Learn by Quicko
Since Form 16B is downloaded and submitted online only, and a signature forms a part of filing form 16B, it is advisable to go for a digital signature.
Hi everyone,
I have a query regarding an incorrect form 26QB that I have submitted. I raised a request for correction and currently the status is showing as Pending for PAN Approval. The correction was done to update the Transaction Dates.
Can you suggest what is the next steps as this status is there since last 4 days. I am not sure if there is anything pending from my end.
Also till the correction is approved can I generate form 16b for that ?
Thanks,
Sutirtha
Hello @Sutirtha_Bagchi,
The status of TDS return - Pending for PAN approval suggests that you’ll have to ask the seller of the property to approve the corrections that you have made in the 26QB return.
Till the correction is under approval you can still download Form 16B.
Hope this helps!
Hi Everyone, will be grateful for your advise. I filled TDS form 26QB first time and made few mistakes.
I corrected the ‘Payment Date’ without DSC and I did not know about E-verification( internet banking), the seller has approved it and is now pending for AO approval who is in Kolkata, my property and myself are in Bangalore, making it difficult for me to go to AO. Will the AO approve it without physical document submission? Else can I cancel the correction and log a now correction with E-verification? It will be my third correction request on the same challan, the first one I cancelled without filling the correction or approval to anyone.
Hi @msr
There is no such requirement to physically visit the AO. The AO will approve the request online if everything seems to be correct.
You can keep a regular check on the portal.
Thank a lot for the quick reply @Shrutika_Shah
One more clarification please, will it still go to AO if correction is done with e-verification for payment date or deduction date for first correction? And I guess even if I cancel this correction and do a e-verification on 2nd correction, it will by default go to AO as this will be my 2nd correction?
hello! I need some assistance with Form26QB correction as I made a mistake in the date of payment and it came back with default. I am receiving the following error when I try to request correction.
- There is no data available for the specified search criteria
- Reasons can be:
-
- There is no statement filed for the searched criteria. Please verify Assessment Year, Acknowledgement Number and PAN Buyer and Seller
-
- No challan has been deposited yet for the 26QB
I am also unable to download the Jurisdiction report and it says:
The latest statement filed for the specified search criteria is not processed, please check later.
What needs to be done here? Is there a way to file correction using e-verification method?
Hello @Sangeeta,
Seems like your Form 26QB is not processed yet. You can check the status on TRACES portal under statements tab and statement status if it is processed or not. If not, you can wait for it to get processed to request for correction and download justification report.
If you need help in correction, we can assist you for the same. You can book a Meet where an expert will help you.
Hope this helps!
Thank you for your prompt response Niyati. I do not see the option of Statement status under Statements/Forms tab. However, when I checked the Default summary, I get the following message:
- The latest statement filed for the specified search criteria is not processed, please check later
I also received the TDS intimation a day before, any idea how many days does it usually take to process the Form 26QB after receiving initimation?
Hello @Sangeeta,
You need to check the status on TRACES portal.
It takes around 6-7 days for TDS forms to get processed. You can wait if such time has not passed.
Thank you! Appreciate your help 
I am now able to file for correction of 26QB. I do have a query, the installment was paid in Oct 2023, but since there was a mistake in the amount credited date, the financial year shows as 2021-2022.
If I correct the amount credited date, will it automatically be updated?
And for “Total amount paid/ credited in previous installments” does the total amount need to be divided between the two buyers?
Hey @Sangeeta,
Yes, the financial year will get automatically updated. Moreover, if there are two buyers, the TDS amount needs to be divided proportionately between the two, and two form 26QB needs to be filed.
Thank you for your assistance so far!
I was able to submit the 26QB correction on 12th Oct, however, it is still at “Pending for PAN Approval” status.
Our seller has informed us that they did not receive any intimation from TDS and they cannot approve unless they receive an update. Is there any way to find what is causing the delay?
I’m a buyer and I have to cancel the property purchase at the last minute. I already paid the TDS a day before the deal was cancelled. Now when I tried to apply for refund because property deal was cancelled. But when we entered all challan details, refund amount allowed shows Rs.0. Consumed amount shows the full amount we paid. how to proceed with refund in such cases? I know the amount or probably credited to seller pan. How to revert back and get the right amount to show up in refund request?
Hello @mwatch25,
It seems like the challan you paid is already utilized against the payment made to seller. You can file correction for the 26QB filed on the TRACES portal.
Hello @Sangeeta,
Apologies for delay in reply.
The request for PAN approval will go to the previous seller. Kindly connect with the previous seller whose PAN you had entered earlier for approval.