India 
Canada
Purchasing a property is one of the biggest financial decisions you’ll make—and with the introduction of the Income Tax Act, 2025, there’s an important compliance update every buyer must understand.
If you’ve heard about Form 26QB, it’s time to update your knowledge—because it has now been replaced by Form 141, along with a change in the TDS certificate format.
🔍 What Was Form 26QB?
Under the old law (Income Tax Act, 1961), Form 26QB was a challan-cum-statement used for deducting TDS @ 1% on property purchase where value exceeded ₹50 lakh under Section 194-IA.
After filing, buyer generated TDS Certificate – Form 16B for the seller.
🆕 What Has Changed in 2026?
Section 194-IA ➝ Section 393(1)
Form 26QB ➝ Form 141
TDS Certificate Form 16B ➝ Form 132
📊 Key Comparison:
Old: Form 26QB | New: Form 141
Old Certificate: Form 16B | New Certificate: Form 132
TDS Rate: 1% | Threshold: ₹50 lakh | Timeline: 30 days
📄 Understanding Form 132:
After filing Form 141, Form 132 will be issued as proof of TDS deduction for seller credit claim.
⚖️ What Changes?
Process remains same. Only form numbers and section references updated.
🚨 Common Mistakes:
Using old forms, incorrect documentation, compliance confusion.
💡 Pro Tip:
Ensure correct TDS deduction, timely filing, and proper certificate issuance.
🎯 Final Takeaway:
The shift is a renumbering reform, not a procedural change—but accuracy is crucial.
📞 Corporate Genie – +91-8700202997
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