What do you mean by Form 16B?

Form 16B is a certificate of deduction of tax at source under section 203 of the Income-tax Act, 1961. Unlike Form 16A, which is issued for tax deducted on income other than salaries, Form 16B is specifically issued for tax deducted on income earned from the sale of immovable property. It is issued by the buyer of the property to the seller as proof of TDS deduction on the sale transaction.

Form 16B contains details such as the PAN of the buyer and seller, TDS amount deducted, and other transaction-related information. Sellers of immovable property use Form 16B for filing their income tax returns and claiming credit for TDS deducted on the sale proceeds.