TDS on immovable property: mandatory electronic deposit with Form 26QB and issuance of Form 16B certificate to payee. Tax deducted on transfer of immovable property must be remitted electronically to the Central Government within seven days from the end of the month in which deduction is made, accompanied by a challan cum statement in Form No.26QB. The Director General of Income tax (Systems) shall prescribe procedures, formats and standards for electronic remittance and administer day to day operations. Deductors must generate and furnish a certificate in Form No.16B to the payee after downloading it from the specified web portal within fifteen days from the due date for furnishing Form No.26QB.