This blog explains Form 16B, the TDS certificate mandatory for property sales over ₹50 lakh in India under Section 194-IA. It details the buyer's responsibility, the process involving Form 26QB, critical deadlines for certificate issuance (15 days from Form 26QB due date), and the penalties (₹100/day under Sec 272A(2)(g)) for non-compliance, emphasizing its importance for both buyers and sellers.

The last day to issue TDS Certificates (Forms 16B, 16C, and 16E) for the fourth quarter is today, March 17, 2025. These certificates serve as proof of TDS deduction and deposit with the government. If they are not issued on time, there may be compliance problems and fines of ₹100 each day. The significance of these certificates, who must provide them, the consequences of non-compliance, and how to obtain them from the TRACES site are all covered in this blog. Take immediate action to guarantee tax compliance and prevent fines!

Section 194-IA of the Income Tax Act requires TDS deduction for property transactions above ₹50 lakhs. This blog gives a detailed reference to TDS deductions, compliance requirements, and the penalties of noncompliance for Indian property buyers. Stay informed and avoid fines with our in-depth insights.

This blog post explains the differences between Form 16, 16A, and 16B, which are essential documents for taxpayers, employers, and payers. It provides a clear understanding of each form's purpose, contents, and importance in income tax compliance.