Form 16b
This query is : Resolved
28 April 2017
Is it mandatory to download the Form 16B after we pay 1%TDS on property,also after downloading the Form 26QB.
28 April 2017
Rule 31(3A) says form 16B has to be given to the payee with in 15 days of furnishing form 26QB, which means the exchequer indirectly says it is mandatory.
28 April 2017
Thanks sir, but once we pay the challan after filling up the 26QB, the details are displayed on the 26AS of both the parties.
28 April 2017
Failure to give form 16B attracts penalty u/s 272A(2) but may be excused u/s 273B for reasonable cause for the failure.
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