Home |Aadhaar Card | I have bought a property during the financial year 2019-20 for Rs 60 lakh. While making a payment, I am supposed to deduct TDS at the rate of one per cent. Can I use Aadhaar number instead of PAN of the seller to quote in the TDS return Form 26QB?

I have bought a property during the financial year 2019-20 for Rs 60 lakh. While making a payment, I am supposed to deduct TDS at the rate of one per cent. Can I use Aadhaar number instead of PAN of the seller to quote in the TDS return Form 26QB?

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Manoj Manoj
Answered on December 17,2019

As per income tax laws, it is mandatory for the buyer of the property to deduct TDS before making payment to the seller if the value of the property exceeds Rs 50 lakh. The tax has to be deducted at the rate of one per cent. The CBDT has amended the Form 26QB (used by individuals to file TDS return) where it has allowed the individual (both seller and buyer) to quote either Aadhaar number or PAN. Remember, Form 16B TDS certificate to be furnished to the seller by the buyer will reflect either PAN or Aadhaar as quoted in the TDS return statement, i.e., Form 26QB

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