How can I get Form 16B from Income Tax site?

II. Steps to Download Form 16B:

  1. Register & login on TRACES portal ( as taxpayer using your PAN.
  2. Select “Form 16B (For Buyer)” under “Downloads” menu.
  3. Enter the details pertaining to the property transaction for which Form 16B is to be requested.
  4. A confirmation screen will appear.

Who is eligible for Form 16B?

Any salaried person whose tax has been deducted by the employer at the source is eligible to get Form 16. Irrespective of the fact whether your income falls under the tax exemption limit or not, the employer must issue a Form 16 if they have deducted tax at source.

Is Form 16B mandatory?

Form 16B TDS is mandatory in India, and its non-issuance leads to a penalty. It must be noted, the deductor has to furnish this form to the concerned payee within 15 days calculated from the due date to furnish challan-cum statement in Form 26QB.

Is Form 16B mandatory for ITR?

HIGHLIGHTS. All employed people have to file an income tax return (ITR) every year with the help of Form 16. In case you have not received Form 16, you should not worry as you can still file your return. Form 16 is a TDS certificate issued by the employer deducting the TDS while making payment to an employee.

How can I get TDS certificate?

Step – 1 Send Request For Tds Certificate

  1. Enter User ID and Password then login.
  2. Click Download Button.
  3. Form 16A.
  4. Fill all details and click go button.
  5. Click Submit Button.
  6. Fill Details and click submit button.
  7. Fill Details and click Proceed With Transaction.

How can I download TDS deduction certificate?

TDS Certificate (Form 16/ 16A) Verification by the Taxpayer

  1. Step – I. Visit
  2. Step – II. Enter the Captcha code and click on Proceed.
  3. Step – III.
  4. Step – IV.

What is 16B in income tax?

Form 16B certifies that the tax has been deducted at source on the income earned from the sale of immovable property (building or a part of it/ land) other than agricultural land. The TDS has been deposited by the property buyer with the Income Tax department.

How can I generate TDS certificate?

What is form 16B for salary?

Form 16B components: Form 16 Part B is a consolidated statement covering details regarding any other income as disclosed by the employee to the organization, salary paid, amount of tax paid, and tax due, if any. are also mentioned in Form 16B. Deductions From Salary: The maximum limit under this is Rs 1.5 lakh.

What if my employer is not paying taxes?

When your employer has not paid the TDS to the income tax department, the TDS would not be available against your PAN in your Form 26AS. If you take the tax credit for this amount, you will receive a notice from the income tax department for the mismatch in the TDS claimed and taxes paid.

What happens if employer does not deposit TDS?

The CBDT has clearly stated that in cases where TDS is deducted by the employer or deductor but the same is not deposited with the government the Assessing Officer cannot raise tax demands upon the payees i.e. the recipient of the salary/other income.

What is meant by TDS certificate?

Form 16/ 16A is the certificate of deduction of tax at source and issued on deduction of tax by the employer on behalf of the employees. These certificates provide details of TDS / TCS for various transactions between deductor and deductee.

What is TDs form 16B?

For filing such return this tax deduction at source certificate known as Form 16B has to be furnished by the deductor. This certificate of TDS is to be issued by the deductor to the deductee in respect of tax deducted and deposited to Government.

What is form 16B in income tax?

FORM 16B : TDS Certificate for Sale of Property. Income tax is an amount charged on the income of all residents of India. The Income Tax Act lays the responsibility of paying the tax on the earning individuals or corporate.

What is a certificate of TDs?

This certificate of TDS is to be issued by the deductor to the deductee in respect of tax deducted and deposited to Government. In this article we will understand complete regulations related to this form.

How to register form 16B in traces?

The buyer of the property would be required to issue Form 16B to the Seller of the property in respect of the TDS deducted and deposited with the government. User can register on the basis of “PAN” Taxpayer logs in to TRACES. Select Form 16B.