TDS on Sale of Property (Generation of 16B Form through TRACES Final Document)

As discussed earlier about how to pay TDS on sale of property in my previous article where after submitting 26QB form and payment of TDS amount which will generate the challan copy online however process doesn't end here and after 7 days, one more form called 16B has to be downloaded by visiting official website TRACES. Here explaining in detail procedure of generating 16B form as follows: 

Procedure to generate and download Form16B from TRACES

• Click here to register as taxpayer on TRACES with details of PAN and either detail of tax deducted or details of challan or details of Form 26QB. Also, enter the verification code and click on ‘Proceed’. Activation link will be sent to email id through which account can be successfully created
• If already registered login to TRACES here with username as ‘PAN’ and password
• Under downloads tab Select ‘Form 16B (For Buyer)’
• Furnish details such as assessment year, acknowledgment no. of the Form 26QB and PAN of the seller
• Form 16B will now be available on requested downloads section under Downloads category
• Form 16B can now be printed/saved

Below is the Screenshot of Form No. 16B.

Once Buyer has this 16B from, this to be shared with seller to complete the procedure of TDS on sale of  property.

Hope, this above information is useful for readers, please comment if any related point missed and require attention while doing the above procedure. 

ASSISTANCE:

Further, We are also professional real estate consultant having experience of more than decade & half and can assist in entire process related to PROPERTY IN INDIA and can be a complete one stop solution of above discussed various procedures and even assist in getting following services with our collaboration with very experienced legal advisers to conclude any such transaction smoothly.

OUR BROKERING SERVICES:

Real Estate Brokering and consulting services (Buy/Sell & Lease High ticket Properties in Pune, Panchgani, Mahabaleshwer, Lonavala, Mumbai & Goa cities of India.) 

We provide brokering consulting services in both Residential & Commercial properties.  

Residential includes Pune Properties - Pune Property, Flats in Pune, Residential Properties Pune, Pune Properties – Find Flats in Pune, Pune Property,Properties in Pune,

Buy 1 2 3 4 5 bhk Luxury Flats, Apartments, penthouses, Bungalows & villas in Pune, New Residential Plot and Property & Real Estate Projects Ready & under construction Residential Projects in pune. Ready & under construction Residential Projects in mumbai. 

Commercial properties include Pune office spaces find sale, Buy, purchase, Pune co-working space on lease, Rent pune office for sale, pune shop for sale, pune showroom for sale, pune shop for rent, pune showroom for rent, Room Hotel for rent, sale, buy, purchase, Restaurant veg, non veg Restaurant for rent sale buy purchase, land plot sale purchase buy. hospital rent lease buy purchase sale, school rent lease buy purchase sale, full building rent lease buy purchase sale.

UNDER-CONSTRUCTION PROJECTS

ASSITANCE IN PURCHASING UNDER-CONSTRUCTION RESIDENTIAL AND COMMERCIAL PROJECTS IN MUMBAI,PUNE, DELHI, NOIDA & OTHER MAJOR CITIES OF INDIA.

it requires extensive research and experience to choose best available option at the given time as opportunity always keep changing.  in this case, we can assist prospective buyer in 2 ways: 

Option 1) Pure consultancy on fixed fee basis: in this way, we will assist buyer to find best project and property as per his preferences & budget as buyer may already reached to builder & negotiating so we can not be paid by builder so in this case fixed fee will be charged to buyer in advance before giving the consultancy then buyer can directly approach to builder to finalize the property. 

Option 2)  We involved as a Brokering company: in this way, prospective buyer will visit through us to each project and we will be registered reprsentative with builder for buyer so in this case, buyer has to pay nothing for our same consultancy services which we were giving in above option 1, even we will refund fee which we receive from buyer for option 1.  

ADDITIONAL CONSULTANCY SERVICES:

• PREPARING REPORT OF ALL RESIDENTIAL / COMMERCIAL PROJECTS IN SPECIFIC LOCATION OF MUMBAI OR PUNE CITY & ADVISING/ASSISTING INDEPANDENTLY TO PURCHASE BEST PROJECT FOR ENDUSE OR INVESTMENT. 
• helping missing property documents index2, purchase/sale agreements in PUNE city only.
•  PAN card for any NRI / PIO without visiting India, 
•  Assistance in reducing TDS on sale of property legally (ENTIRE INDIA) 
•  Will & GIFT DEED (Mumbai, Pune & other major cities of Maharashtra state)

hope able to explain our point of view, still any query, please contact anytime on given contact number for detailed Discussion, cell no./whatsapp # +91-9822052388 / +91-7498829332, Email: deepaksundrani@thegururalty.com. 

There are many Advantages & Benefits to hire professional consultant which can be experienced only after hiring right person.

Rest assuring here that we work very ethically, honestly and professionally and for us, our client interest is utmost and foremost then anything else. We have already successfully assisted many NRI’s, EXPATS INVESTORS & LOCALITIES to purchase property in both Mumbai & Pune cities as per their requirements & preferences and most of them are with us to manage their properties through us only so one can judge the level of trust & integrity we have in our work & services.  

Thank you very much for reading my article as here intention is to share information and enhance knowledge for each & everyone for the betterment & provide more transparency in real estate sector.

wishing everyone good health and happyness.

Warm Regards,

Deepak Sundrani