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Form 16B
Form 16B is a TDS certificate that shows the amount of tax deducted at the source during a property purchase, which is deposited by the buyer with the income tax department. Unlike Form 16 and Form 16A, this form verifies the TDS applicable to the sale proceeds of the property. It is issued by a buyer to the seller.
Components of Form 16B
- Certificate Number
- Name, PAN, and address of the buyer as well as the seller
- Financial Year
- Summary of transactions
- Details of tax deposited
