What is Form 16B in Indian income tax?
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Form 16B is a certificate issued by the buyer of immovable property to the seller of the property, certifying the TDS (Tax Deducted at Source) amount deducted and deposited against the sale consideration of the property. It is required to be furnished by the seller to claim credit for TDS while filing income tax returns. Form 16B contains details of the buyer, seller, property transaction, TDS amount, and other relevant information.