How to download tds certificate in form 16b?

TDS 22827 views 8 replies

Simran

Student

1165 Points Joined December 2012

How to Download TDS Certificate in Form 16B?

Government has made it mandatory w.e.f 01.06.2013 on buyer of property to deduct TDS @ 1% on payment made after 01.06.2013 if Purchase Consideration of the Property exceeds Rs. 50 Lakh.

Deductor can pay such TDS by any of the following mode:-

Either make the payment online (through e-tax payment option) immediately or make the payment subsequently through e-tax payment option (net-banking account) or by visiting any of the authorized Bank branches. However, such bank branches will make e-payment without digitization of any challan. The bank will get the challan details from the online form filled on www.tin-nsdl.com.

Once the Payment is made now the dedcuctor is required to issue TDS certificate in form 16B to the seller of the Property. Now the question is how to prepare or from where deductor can get such certificate for the purpose of issue to the seller? Answer is deductor can download such certificate from Traces website and issue to the seller.

Procedure to Download TDS certificate in form 16B is as follows:-

1. Login to:

https://www.tdscpc.gov.in/en/deductor-home.html

2. Click on Register New User and you will be asked to provide basic details such as your

PAN
Date of Birth
Last, Middle and First Name and would also be required to further validate details of either tax deducted (option 1) or tax paid by you (option 2).

3. On Validation of details, your account will be created. User ID by default would be your PAN, You would have the option of providing Pass word of your choice. A email would be automatically generated providing you an activation link with a second code being text on your mobile. Having activated your account, it is now ready to be used. Services currently available are view 26AS statement and down load Form 16B in case you are the buyer of immovable Properties. May be in near future you are able to download your Form 16 or 16A also through this window.

To download form 16B, go to download, click on request for form 16B, validate details and submit your request. After some time the same shall be available under download menu. Click on download, click of available and download and save it your computer.

Print, sign and deliver it to the seller.

Replies (8)

Nikhil Kaushik

Fellow CA

86871 Points Joined June 2009

Dear Simran,

Thanks for nicely covering this topic.

madinashabana11

MBA

1112 Points Joined July 2011

Thanks for sharing.........!!!

umesh vishwakarma

article

34 Points Joined October 2013

Thanks simran. Its a nice topic

Ashwin

ACCOUNTANT

33 Points Joined October 2009

Very nice solution given

Ganeshbabu K

Audit and Tax Advisory

48564 Points Joined May 2012

We need to register as a taxpayer to register in traces with pan. ... .. . It will be easy if you have any tds credits in traces registration...note that tds deducted has to be shown in rupees..means if 123 is tax deducted we should say it as 123.00

ramachandra

CA final student

43 Points Joined November 2008

following steps to be taken to obtain Form 16B (for the deductor or buyer) and Form 26QB for the (seller or deductee).

Firstly one has to go to the following link:
https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp

Once this link is opened click on Form 26QB (Payment of TDS on sale of property).
Select (0021) in case of non corporate payer and 0020 in case of corporate payer.
On filling in the various details called for in that form, click on ‘Proceed’ at the bottom of the page, this will then take you to the next page, which will give you the option to select your bank.
Once you select the bank, then login using the normal online process for your bank.
Once the payment is made the bank will let you print challan 280 with a tick on (800), which is payment of TDS on sale of property.
Take a printout of the challan and keep the same for your records and for the builder/seller if required.

This is the first phase of the process. Once this is completed one has to wait for seven days for the details to be reflected on TRACES web site - https://www.tdscpc.gov.in/. As a first time user, you will have to register on this website. Once you register whether as seller or buyer, you will be able to obtain the Form 16B or 26QB which has been approved and is reflected against your PAN in your Form 26AS.

Check Form 26 AS after seven days and you will notice that the payment you had effected against TDS on sale of property is reflected in Part F of the Form 26 AS under ‘Details of Tax Deducted at Source on Sale of Immoveable Property u/s 194(IA) [For Buyer of Property]. This will give you details such as the TDS certificate number (generated by TRACES), name of deductee, PAN of deductee, acknowledgement number, total transaction amount, transaction date, TDS deposited, date of deposit, status of booking and date of booking.

Once the payment is reflected in 26AS as above, you will have to go to the TRACES again. Login to the website, and click on ‘Downloads’ tab. In the dropdown menu click on ‘requested downloads’. 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. Once this is done, you will be able to view the status of your application, which generates an application request number.

Within a couple of hours, the application gets processed and you will be able to view your Form 16B by putting in the request number which you have obtained. You can take a printout of the same for your records as well as for handing over to the seller of the property. A similar process has to be followed by the seller to obtain form 26QB.

Warm Regards

Ram

Snehal

Accounts Asst.

22 Points Joined February 2011

Dear Seniors,

My company is already register on Traces, but when I m uable to dowload form 16b.

Do I have to register again under tax payer category for issuance of form 16b?

Thanks in advance,

Snehal

chetankumar

SAP

21 Points Joined December 2014

If there are 2 buyer and 2 seller then we need to file 4 - 26Q form

A and B seller ..C and D buyer

Now when buyer C & D complete 26Q form activity they will have 4 challan correct?

Next is form 16B download and for that buyer C& D need to register on TRES

so While doing registration on TRES in option 2 buyer C needs to pass challan number and amount. So does buyer C needs to enter 2 challan number seperated by comma or onely one challan number in challan serial number field and what amount he/she should pass?