04/05/2026
TDS on sale pf Property
*Many professionals and taxpayers have been facing confusion over the last few days regarding TDS payments for purchase of Immovable Property from Non-Resident deductees from 01.04.2026 under the new Income-Tax Act 2026.*
Please note that at present, *TDS payments relating to Non-Residents are required to be made through TAN login only, just as was being done earlier.* The applicable *Section Code appearing in the Challan List under New Act is 1057,* described as interest or other sums chargeable to tax (other than salary).
It is important to carefully note that the Finance Act 2026 amendment introducing *PAN-based payment mechanism is effective from 01.10.2026. Therefore, until 30.09.2026, the existing process through TAN login continues to remain valid and operational.*
Much of the difficulty currently being faced appears to be arising from partial reading of amendments and assumptions that the new PAN-based mechanism has already replaced the TAN-based process.
Before acting on viral posts or forwarded messages, it is always advisable to verify the effective date of amendments, as many statutory changes are announced earlier but implemented from a later notified date. 🙏
