Form 16C is the newly introduced TDS certificate to be issued by rent payer (deductor) i.e. individuals & HUF’s who are not under Tax audit (under section 44AB), paying a rent of Rs. 50,000/- or above per month, to the rent receiver (deductee) as per section 194IB.
Form 16C contains the following details of the deductor and deductee i.e. name, address and PAN and other details like certificate number, financial year of deduction, unique acknowledgement number, amount paid, date, amount of tax deducted and deposited and challan details.