Hi, I have purchased a flat for 2.92 cr. Payments were across multiple months due to some delays from seller side. First payment of 50K was made on 15/Mar/2026. Next on 2nd/April/2026 of 30 lakh. 40 lakh on 5th/July/2026. Rest will be paid home loan. Date of agreement is 5/June/2026. It is mentioned that tds should be paid within 30 days of payment. Income tax portal is not showing any interest of penalty while entering the correct dates and amount. Do my case attract any interest or penalties, also should i file separate tds for every payment or I can combine all and pay a single tds.
Bottom line: Yes, interest and a late fee do apply — the portal showing nil is not a clearance. You must file a separate statement for each instalment, and because your payments straddle 1 April 2026, the first one goes on the old Form 26QB and the rest on the new Form 141.
1. TDS applies to every instalment, including the ₹50,000
The ₹50 lakh threshold is tested on the total consideration (₹2.92 cr), not on each payment. So 1% is deductible on every instalment — ₹2,92,000 of TDS across the deal. "Consideration" also takes in car parking, club membership and maintenance charges, so check those sit inside your ₹2.92 cr.
2. The form changed on 1 April 2026 — this is the part most people miss
Section 194-IA is now section 393(1) of the Income-tax Act, 2025, and the Income-tax Rules, 2026 replaced Form 26QB with Form 141 (Schedule B). The certificate you give the seller is now Form 132, not Form 16B. Which form applies is decided by the date of payment, not the agreement date:
• ₹50,000 paid 15-Mar-2026 → old law → Form 26QB
• ₹30 lakh (2-Apr-2026) and ₹40 lakh (5-Jul-2026) → Form 141
3. The due date is not "30 days from payment"
It is 30 days from the end of the month in which tax is deducted. That gives you:
• ₹50,000 (March) → due 30-Apr-2026 — overdue
• ₹30 lakh (April) → due 30-May-2026 — overdue
• ₹40 lakh (July) → due 30-Aug-2026 — not yet due
4. What the delay costs
Interest under section 398 (the old 201(1A)) at 1.5% per month or part month from the month of deduction, plus a late-filing fee under section 427 (the old 234E) of ₹200 per day, capped at the TDS amount. On your figures, as at mid-July 2026: the ₹50,000 instalment — interest about ₹40 and fee ₹500, where the cap has already bitten; the ₹30 lakh instalment — interest about ₹1,800 and fee about ₹8,800, growing by ₹200 every day until you file. File both now.
5. Why the portal is showing nothing
The challan-cum-statement does not compute the fee or the interest for you — they are separate fields you fill in yourself. Filing with them blank goes through, and CPC raises a demand afterwards. If it shows nil even with the right figures, check that you have entered the actual date of payment as the date of deduction, and not today's date.
6. One statement per instalment — you cannot club them
File one statement per payment, per buyer-seller pair, with the instalment flag ticked. The same goes for each home-loan disbursement: the bank pays the seller, but you are the deductor, so deduct 1% and file for every disbursement.
Before you do any of this, one check: all of the above assumes the seller is a resident. If the seller is an NRI, none of it applies — you are into the section 195 route, you need a TAN, the rate is far higher, and getting it wrong is expensive.
Work the numbers through with our TDS on Property Sale Calculator.
If you would rather hand this over: My Cloud Accountant offers filing assistance for TDS on property — the instalment-wise statements, the interest and late-fee computation, and correction statements where a filing has already gone in wrong. Request a call back — no payment is taken online, and you get an exact quote before anything is done.