Online statement cum challan Form/ Form 26QB is to be filled in by each buyer for unique buyer-seller combination for respective share. E.g. in case of one buyer and two […]
Is there any provision in Income tax act 1961 or Income tax Rules 1962 format for Form16 B?
Form 16B is issued as per the provisions of Rule 31(1) of Income tax Rules 1962.
I have lost 9 digit alphanumeric acknowledge number which was generated while filing form 26QB. Now from where can I get acknowledgement number to download form 16B?
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 […]
What is the procedure to generate the Form 16B?
Form 16B shall be generated by TDS-CPC on processing the Form 26QB (statement cm challan form) filed by buyer. Following are the steps to generate form 16B: Buyer has to […]
From where will I get the Form 16B?
Buyer/ Purchaser of immovable property can download Form 16B after registering on TRACES as Tax Payer.
Who can download Form 16B?
Only a purchaser/buyer, who is registered on TRACES as tax-payer can download Form 16B, using unique acknowledgment number generated while filing of Form 26QB (statement cum challan form).
I am a purchaser/buyer, whether I should deduct TDS on Property from the amount exceeding the property value of 50 Lakhs or on the whole amount of property sold?
TDS is to be deducted on the total amount paid or credited to the seller. For example, if an amount of property sold is 70 Lakh, TDS will be deducted […]
Which challan is used for depositing the amount deducted under section 194IA?
The deducted amount can be deposited using ITNS-280 under the minor head-800.
What is Form 16B?
Form 16B is the TDS certificate to be issued by the deductor (purchaser/buyer of immovable property) to the deductee (Seller of immovable property) in respect of the taxes deducted on […]