Form 16B: Form 16B is concerned with the sale of a property. Any TDS deducted for property sales is reflected in this form. The buyer of the property must deduct TDS and pay the same to the government. Form 16B will be issued to the seller as proof that the tax has been deposited wi...
Form 16 Vs. Form 16A Vs. Form 16BShweta , Last updated: 24 November 2020 Share What is TDS? TDS refers to the deduction of tax at the source when payment of a specified nature is made. As per the Income Tax Act, 1961, any person liable for making such a payment is required to ...
TDS certifications come in Form 16, 16A, 16B, and 16C. The person who made the payment must give the TDS certificates to the person from whom he took the TDS. For example, when TDS gets subtracted from interest on fixed deposits, banks send Form 16A to the depositor. The employer provid...
Like Form 16A, form 16B is also proof of the TDS deduction and deposit for the amount deducted at the sale of the property. Buyer deducts the TDS on sale of property from seller’s account and submits it to the Income-tax department. The seller can ask for an income tax return by s...
The act of not deducting the TDS, Issuing the Form 16B or Not filing Form 26QB attracts both interest and penalty. The applicable penalties are as follows: ConditionPenalty In the case of Non-deduction of TDS The Penalty of 1% interest on the amount not deducted for the TDS In case of ...
TDS in Form 16/Form 16A matches PART A of Form 26AS TDS deducted by each source is shown as a separate table as shown in image below. Entries are in reverse chronological order that means entry with later date will appear first. So if you have entry for date 31-Jul-2012, 31-Aug-20...
5t7rj+ozP5rbZm33HsLvf3+O19XmXd+5C46+c0n16bMEb/5g1/cc+z2P75Jtwz9nrHzszv0/M8+2xy74Y6T+/bTtZbZ72587rbv3dzZ/OHN96XTrva72trn+7NE7fT3a/wtn6WraLP7lfn+P/PW88O/+//SH/3tzRMnT35Xz/3pQaG55+3v6u657R0btyPvccRI0L81kr5zpnqvd9y1waZwuCN+cSCoV14yZrd9bt8ykM7td21MMjnKffWlnr58YTI...