Form 16B shall be generated by TDS-CPC after the processing of Form 26QB (statement come Challan form) filed by buyer. Following are the steps to generate form 16B:- Buyer has to register on TRACES as Taxpayer. Login to TRACES as tax payer. Submit Download Request for Form 16B under ‘Downloads’ tab. File will be available…
The details available are as below: Name / Address / TAN of Deductor Name / Address / PAN of Tax Payer Certificate Number Summary of payment made by Deductor Summary of tax deducted at source in respect of Tax Payer Details of tax deducted and deposited in Central Government account through challan / Book Adjustment…
TDS on recurring deposits makes investors either submit the exemption forms if there is no taxable income. In case of TDS on RD, they may have to revisit their tax calculations and accordingly pay tax. The provisions for the applicability of the tax deduction at source (TDS) for recurring deposits are now into the implementation…