Tax deduction certificate records TDS details, challan deposits and verification for payments between payer and payee. Form No.16C operates as the statutory Tax Deduction Certificate under section 203, requiring deductor and deductee identification (PAN/Aadhaar), financial year, transaction summary with unique acknowledgement numbers, amounts paid/credited, tax deducted per deductee, and detailed challan information (identification number, BSR code, date, serial number) evidencing deposit to the Central Government; it includes a signed verification by the person responsible for deduction certifying accuracy based on books and challan-cum-statements.