Type 16B is a TDS Certificates which displays that the quantity 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 client is required to deduct TDS on Property @ 1% from the quantity he has to pay to the vendor. This quantity is then required to be deposited with the Earnings Tax Division. (Really helpful Learn: TDS on Property @ 1% below Part 194IA)
As soon as the quantity has been deposited with the Earnings Tax Division, the client is required to situation Type 16B to the Vendor which is a proof of the truth that the TDS deducted on property has been deposited with the Govt.
Similar to Type 16 is a TDS Certificates for TDS Deducted from Wage and Type 16A is a TDS Certificates for TDS deducted from all different funds, Type 16B is a TDS Certificates for TDS deducted on Sale of Property.
Type 16B may be downloaded on-line from TRACES Web site and the process for downloading this way is given under on this article. A tutorial for downloading this way (defined with screenshots) has additionally been hooked up on the finish of this text.
Obtain Type 16B On-line from TRACES Web site
As soon as the client has furnished all particulars in Type 26QB and deposited the TDS, he can obtain the Type 16B on-line which he’s required to present to the client. This kind may be downloaded from TRACES web site by following these steps:-
- Logon to TRACES web site (www.tdscpc.gov.in) utilizing the login button given on the left facet.
- In case you’re accessing the web site for the 1st time, you’ll be required to first register an account by furnishing your particulars.
- On validation of all the small print, your account could be created. The username in your account could be the PAN No. and the password could be of your alternative. An activation hyperlink could be despatched on to your mailbox and a code messaged to your cell which might be required to energetic your account.
- As soon as your account has been created, go to downloads part and obtain the shape as proven within the screenshot under.
- Furnish the Evaluation 12 months, Acknowledgement No. and the PAN No. of the Vendor to obtain the Type.
- After furnishing all these particulars, Type 16B could be accessible within the Requested Downloads Part below the Downloads Class.
- Print the shape, signal it and ship it to the client
The customer also can entry the small print of TDS Deducted by means of Type 26AS which is a Consolidated assertion of the full TDS Deducted and consists of all particulars as mirrored in Type 16, Type 16A & Type 16B.
Tutorial on How you can Obtain Type 16B
A Tutorial on How you can Obtain Type 16B on-line from TRACES Web site has been hooked up herewith in your prepared reference.