Form 16B: Certificate of TDS on Sale of Property

By teamquicko on February 18, 2019

What is Form 16B?

It is similar to form 16/ 16A issued by the employer/ deductor to employees/ deductees. But Form 16B is issued by the buyer showing details of tax deducted and deposited on property consideration paid to seller of property.

Form 16B is issued within 15 days from the date of furnishing Form 26QB

What details are present in Form 16B?

Following are the details present in Form 16B:

  • Certificate Number,
  • Name, PAN and Address of Buyer and Seller,
  • Financial Year,
  • Summary of Transactions
  • Details of tax deposited
Form 16B

How to download Form 16B?

Once form 26QB is processed, buyer can download Form 16B from TRACES.

  • Click on ‘Login’ button and select ‘Taxpayer’,
  • If you are not registered on TRACES then  click on ‘Register as New User’ and finish the registration process,
  • After you login to your account, go to downloads and click on Form 16B,
  • Add details like Assessment Year, Acknowledgement Number of Form 26QB, PAN of Seller and click on proceed.  
  • Click on ‘submit request’ to submit request for download of Form 16B. Confirmation of the request will also be shown upon successful submission.
  • Go to downloads after 24 to 48 hours of request submission and click on ‘Request Downloads’ to track request status. Once status changes to Available click on ‘HTTP Download’ to  download Form 16B zip file.