Dear Experts,
Is their any penal provision for not downloading form 16B of downloaded late, though tds on sale of immovable property is deducted and paid.
Dear Experts,
Is their any penal provision for not downloading form 16B of downloaded late, though tds on sale of immovable property is deducted and paid.
1. Form 16B shall be issued within 15 days from the due date of furnishing Form 26QB [Sec. 203, Rule 31(3A)].
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2. If any person fails to furnish a certificate as required by sec. 203, he shall pay, by way of penalty, a sum of Rs. 100 for every day during which the failure continues [Sec. 272A(2)(g)].
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3. But, the amount of penalty shall not exceed the amount of tax deductible [First Proviso to sec. 272A(2)].
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