Form 16B is a TDS (Tax Deducted at Source) certificate issued
by the buyer of a property to the seller. It serves as proof that the buyer has
deducted TDS from the sale amount and deposited it with the Income Tax
Department. As per Section 194-IA of the Income Tax Act, TDS applies when the
sale price of an immovable property (excluding agricultural land) exceeds ₹50
lakh. This form helps both parties—the seller gets proof of TDS deduction, and
the buyer ensures compliance with tax regulations.
COMPONENTS OF FORM 16B
· > Buyer & Seller Details – Name,
PAN, and address.
· > Property Details – Address and type of property.
· > Transaction Details – Sale value, amount paid, and payment date.
· > TDS Details – 1% TDS amount, deduction date, and deposit date.
· > Acknowledgment & Challan Details – Form 26QB reference number and bank challan details.
· > Verification – Signature and authentication.
DUE DATE OF FORM 16B
The buyer must download Form 16B from the TRACES
portal and provide it to the seller within 15 days from the date of filing
Form 26QB (i.e., after depositing TDS with the government).
For example, if Form 26QB is filed on April 10, Form 16B must
be downloaded and given to the seller by April 25.
Steps to Download Form 16B from TRACES Portal
1. 1. Go to the official TRACES portal and login as Taxpayer.
2. 2. Log in using your PAN as the user ID and the password created during registration.
3. 3. Navigate to ‘Downloads’ and select ‘Form 16B (For Buyer)’.
4. 4. Enter the Form type, Assessment Year, Acknowledgment Number and the PAN of Seller from Form 26QB.
5. 5. Click ‘Proceed’, then confirm the request and submit it.
6. 6. After processing, go to ‘Downloads’ → ‘Requested Downloads’ to check the status.
7. 7. Once the status shows ‘Available’, download the zip file containing Form 16B.
8. 8. Extract the file and open it using a password, which is your date of birth in DDMMYYYY format.
9. 9. Provide Form 16B to the seller as proof of TDS deduction.
Below is the screenshot of Form 16B.
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