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of <h1>CBDT Amends Income-tax Rules for Easier TDS on Property Transfers: New Deadlines and Form Updates</h1> The notification by the Central Board of Direct Taxes amends the Income-tax Rules, 1962, to simplify tax deposit procedures and information submission for Tax Deducted at Source (TDS) under section 194-IA, concerning payments on the transfer of certain immovable properties. Key changes include the requirement to deposit deducted tax within seven days of the month's end using Form No.26QB, and the issuance of a tax deduction certificate in Form No.16B within fifteen days. The Director General of Income-tax (Systems) will oversee electronic remittance and certificate generation processes. Form No.24Q has also been revised.
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