Kind 16B is a TDS Certificates which shows that the amount deducted as TDS on Property by the Purchaser has been deposited with the Earnings Tax Division.
On the time of sale of immovable property, the shopper is required to deduct TDS on Property @ 1% from the amount he has to pay to the seller. This amount is then required to be deposited with the Earnings Tax Division. (Actually useful Be taught: TDS on Property @ 1% beneath Half 194IA)
As quickly as the amount has been deposited with the Earnings Tax Division, the shopper is required to scenario Kind 16B to the Vendor which is a proof of the reality that the TDS deducted on property has been deposited with the Govt.
Just like Kind 16 is a TDS Certificates for TDS Deducted from Wage and Kind 16A is a TDS Certificates for TDS deducted from all totally different funds, Kind 16B is a TDS Certificates for TDS deducted on Sale of Property.
Kind 16B could also be downloaded on-line from TRACES Website online and the method for downloading this manner is given underneath on this text. A tutorial for downloading this manner (outlined with screenshots) has moreover been attached on the end of this textual content.
Get hold of Kind 16B On-line from TRACES Website online
As quickly because the shopper has furnished all particulars in Kind 26QB and deposited the TDS, he can receive the Kind 16B on-line which he’s required to current to the shopper. This type could also be downloaded from TRACES website online by following these steps:-
- Logon to TRACES website online (www.tdscpc.gov.in) using the login button given on the left aspect.
- In case you’re accessing the website online for the 1st time, you’ll be required to first register an account by furnishing your particulars.
- On validation of all of the small print, your account may very well be created. The username in your account may very well be the PAN No. and the password may very well be of your various. An activation hyperlink may very well be despatched on to your mailbox and a code messaged to your cell which is perhaps required to energetic your account.
- As quickly as your account has been created, go to downloads half and acquire the form as confirmed inside the screenshot underneath.
- Furnish the Analysis 12 months, Acknowledgement No. and the PAN No. of the Vendor to acquire the Kind.
- After furnishing all these particulars, Kind 16B may very well be accessible inside the Requested Downloads Half beneath the Downloads Class.
- Print the form, sign it and ship it to the shopper
The client can also entry the small print of TDS Deducted by way of Kind 26AS which is a Consolidated assertion of the total TDS Deducted and consists of all particulars as mirrored in Kind 16, Kind 16A & Kind 16B.
Tutorial on How one can Get hold of Kind 16B
A Tutorial on How one can Get hold of Kind 16B on-line from TRACES Website online has been attached herewith in your ready reference.