Form 16C is the TDS certificate which is issued by the Tenant of property to the Landowner of property in respect of TDS deducted on rent under Section 194-IB of the Income-tax Act, 1961.

 

Form 16C can be download from the website of Centralized Processing Cell of TDS (CPC-TDS), www.tdscpc.gov.in

 

Form 16C is a new TDS certificate introduced by the government of India. Form 16C reflects the amount of TDS deducted on rent at 5 % by the individual/HUF (u/s 194IB). The person deducting TDS on rent is required to deposit the TDS along with Form 26QC within 30 days of deducting TDS on rent. In addition, the Form 16C should then be provided to the deductee within 15 days of depositing the TDS and Form 26QC


For Example:



Shivam is a salaried employee and paying a rent of Rs 70,000 per month. He deducted the TDS at the rate of 5% as per section 194IB for the whole year in the month of March. The amount of TDS comes out to be Rs 42,000 (8,40,000 x 5%). Now this TDS has to be deposited along with Form 26QC before 30th April, i.e. within thirty days from the end of the month in which TDS has been deducted. Also, Shivam is required to furnish the Form 16C to his landlord within 15 days from the due date of furnishing a  challan cum statement i.e. in Form 26QC. That means you need to furnish the Form 16C to your landlord by 15th of May.


You can download Form 16C or Form 26QC online from TRACES website.