After confirming, a screen appears showing two buttons as print form 26qb and submit to the bank. How to download form 16b tds certificate for sale of. Here is the guide about making payments of tds and obtaining form 16b for the buyer and form 26qb for the seller. If status says submitted, wait for a few hours more before repeating the last step. If no application has been made you will be asked to make a request for download, here fill in the acknowledgment number nine digit number which is reflected on form 26as part f as mentioned above. Form 16b is the tds certificate to be issued by the deductor purchaserbuyer of immovable property to the deductee seller of immovable property in respect of the taxes deducted on the sale of immovable property and deposited into the government account. For paying tds, the seller will obtain form 16b and form 26qb for the buyer. Income tax department form16b download income tax department tax services forms 16b form 16b. Complete process for filing tds on property in india. I am unable to download form 16 16a as the number of pans for which form 16 16a were submitted was higher, however the pdfs generated were less. Know more about form 26qb, how to procure form 16b, deduction under.
After your payment in form 26as has been reflected, login to traces. Unique acknowledgement number amount paidcredited date of paymentcredit ddmmyyyy amount of tax deducted and deposited in respect of the deductee. This gives you details such as tds certificate number which traces generates, name and pan of deductee, transaction date and amount, acknowledgment number which is the same as the one on your form 26qb, date of deposit and tds deposited. On the next page, you will get acknowledgement number. Under downloads tab select form 16b for buyer furnish details such as assessment year, acknowledgment no. Enter the details pertaining to the property transaction for which form 16b is to be requested. Procedure for tds payment form 26qb and generation of. The buyer will deduct tds at 1% of the total sale consideration. For such tax deduction, obtaining a tax deduction account number tan. Print the form, sign it and deliver it to the buyer. Try now understand how to pay tds on sale of property by filing 26qb form and how no tds is deducted if sale consideration is less than rs 50 lakh.
Form 16b is a tds certificate issued by a buyer to a seller of house property. Form 16b tds certificate for sale of property download. Form 16c contains details of the deductor and deductee with respective pans, certificate number, financial year of deduction, unique acknowledgement number, amount paid, date, amount of tax deducted and deposited. Submit this at any authorized lender with cheque or cash. Tan is a ten digit alphanumeric unique identification number allotted to. It is advisable to save this acknowledgment number for future use. Only a purchaserbuyer, who is registered on traces as taxpayer can download form 16b, using unique acknowledgment number generated while filing of form 26qb statement cum challan form.
Procedure for tds payment form 26qb and generation of form. I have entered tax amount in fee, i am unable to generate form 16b from. This video illustrates step by step process of registering on to traces webpage and download form 16b, which later needs to be given to the seller by. I have lost 9 digit alphanumeric acknowledge number which was generated while filing form 26qb. The bank will handle the epayment and produce the challan. Online form for furnishing tds on property form 26qb.
Form 16b tds certificate for sale of property indiafilings. Only a purchaserbuyer, who is registered on traces as taxpayer can download form 16b, using unique acknowledgement number. The workaround suggested was to have someone in india login with your credentials and submit a request for downloading 16b by clicking on the link this link for 16b is what is missing when you login from outside india under the downloads menu and providing seller pan, tds acknowledgement number from form 26qb, etc. To generate download form 16b, you need to first make the tax payment using etax payment option i. A unique acknowledgement number is also displayed on the screen. Sign, fax and printable from pc, ipad, tablet or mobile with pdffiller instantly no software.
Now from where can i get acknowledgement number to. Fill form 26qb pdf, download blank or editable online. When this is done, the user can view the status of the application. The form 26qb challan has to be filled by each buyer for every unique buyerseller combination for their respective share. After making payment of the deducted tds amount through challan 26qb, you can see it in your form 26as reflecting with break up for each amount paid and acknowledgement number for that. Then click on submit to the bank to make the required payment online through internet banking. Buyer purchaser of immovable property can download form 16b after registering on traces. How to register on traces website and download form 16b. Issuing form 16c to the landlord by the tenant acts a proof of tds paid. To download the form, the following steps can be taken.
Make a note of this number and save it in a safe location since it would be needed later to download form 16b. The form 26qb challan has to be filled by ho buyer for every unique buyerseller combination for their respective share. If you are not comfortable with online payment, an ereceipt for form 26qb with a unique acknowledgment number, valid for 10 days, is created for you. About 5 to 10 days after depositing the tds payment, the taxpayer can log in to the traces portal for downloading form 16b. Unique acknowledgement number amount paidcredited date of paymentcredit ddmmyyyy amount of tax deducted and deposited in respect of the deductee total rs. Taxpayer needs to enter pan of the tenant and landlord, total payment and financial year as mentioned at the time of filing the form 26qc to retrieve the acknowledgment number. Make a note of the challan number you see on the last screen. The main purpose of introduction of this section is to improve under valued and under reporting property sales across the country. Procedure for payment of tds on sale of property form. Acknowledgment number for the form 26qb furnished is available in the form 26as annual tax statement of the deductor i.
If you cannot pay online, an 62qb receipt for form 26qb with a unique acknowledgment number is generated for you. The request submitted for form 16b would be marked as available. Here is the guide about making payments of tds and obtaining form 16b for. The deductor can download form 16b and furnish it to the deductee. Form 16b will be available for download from the website of centralized processing cell of tds cpctds. Form 16b will now be available on requested downloads section under downloads category. Taxpayer can also click the option view acknowledgment hosted on the tin website. Procedure to generate ack and challan after payment under 26qb tds on sale of immoveable property we are giving hereunder the procedure how to check and generate acknowledgement and challan paid after filing 26qb and making payment subsequent to that. If you cannot pay online, an online receipt for form 26qb with a unique acknowledgment number is generated for you.
Unique acknowledgement number amount paidcredited date of paymentcredit ddmmyyyy amount of tax. Tds payment on property and how to obtain form 16b and 26qb. Can i download form 16b without acknowledgement number. Form 16 is a crucial document for a salaried individual, especially if the employer has deducted tax on income. Tax deduction and collection account number is a tendigit alphanumeric unique identification number allotted to the deductor and must be quoted in all communication of the deductor thereby.
Form 16b download the form online from traces website. A summary of tds transactions which would contain the unique acknowledgement number, amount of rent paid, date of payment of rent and the amount deducted as tds. Enter the ninedigit acknowledgment number reflected on form 26as part f. The buyer can then download this certificate also known as form 16b and give it to the seller as a proof of tds submission. Traces facilitates the buyer of immovable property to download form 16b after registering on traces as taxpayer. Only a purchaserbuyer, who is registered on traces as taxpayer can download form 16b, using unique acknowledgement number generated while filing of form 26qb. After the account has been created, you can access the download section and download the form 16b for buyer. Only a purchaserbuyer, continue reading what is form 16b.
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. Follow a few online steps to open your account and youve finished. As we all know that the purchaser of property with value of rs. As per section 194ia, tds on sale of property was introduced in the year 2014 budget with view of eliminating evasion of tax. Once the buyer makes the payment of tds on behalf of the seller, a tds certificate gets generated after a few days of making the payment.
So as to increase the tax revenue through capital gains by the government. The assessment year, pan number and acknowledgement number of the seller has to be furnished. Procedure to generate ack and challan after payment under. From june 1st, 20, when a buyer buys immovable property not agricultural land that costs more than rs. Furnish details such as assessment year, acknowledgment no.
A similar process has to be followed to obtain form. Form 16b form 16b is a tds certificate for tds deducted on a sale of property. After the tds deducted has been paid through challan 26qb, wait till it is reflected in form 26as. Scroll down, hit submit to the bank and make the payment. One of the premier consulting firms providing innovative and effective business solutions to small medium and large sized enterprises through a. The deductor can post 24 hours login to the traces system and select the download tab and then the requested downloads option.
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