FAQs
Sub-Categories
- (Q1.)What is Form 16B?
- Form 16B is the TDS certificate to be issued by the Deductor (Buyer of property) to the deductee (Seller of property) in respect of the taxes deducted and deposited into the Government Account.
- Form 16B shall be generated by TDS-CPC after the processing of Form 26QB (statement come Challan form) filed by buyer. Following are the steps to generate form 16B:-
- Buyer has to register on TRACES as Taxpayer.
- Login to TRACES as tax payer.
- Submit Download Request for Form 16B under 'Downloads' tab.
- File will be available under 'Requested Downloads' in 'Downloads' tab.
- Form 16B will be generated in PDF file and password to open this file is date of birth of the buyer in ddmmyyyy format i.e. if the date of birth is 4th October 1976, password would be 04101976.
- No.
- It is advised to note down the acknowledgment number. However, in case if it is lost, the acknowledgement number is also be reflected in Part 'F' of Form 26AS of the buyer and Part 'A2' of Form 26AS of the seller.
- Form 16B is issued as per the provisions of Rule 31(1) of Income tax Rules 1962.
