Form 16

Understand Your Form 16

Income Tax - Form 16 becomes quite a topic of discussion in all office campuses during the tax filing season. Though we know that Form 16 is for tax filing, many of us still find it hard to understand the components of Form 16 while filing the return. Understanding Form 16 is the key to better tax planning....

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What if Employer refuses to issue TDS Certificate / Form 16

Income Tax - The employee has a right to obtain the TDS certificate in form 16 from his employer. The certificate details should be filled in return of income, since no credit for TDS can be given without it. In case your employer fails to issue the TDS certificate, he shall be liable to a penalty of Rs. 100/- for each day of default u/s 272A(2)g). T...

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Form 16/16A v/s 26AS online annual statement

Income Tax - Form 16 or 16A are provided by employer to employee as a proof of tax deduction. At the end of the financial year, tax payers file their income tax returns (ITR) from the income tax details provided in form 16 or 16A. On the other side, as a part of e-governance, tax payer is provided 26AS annual statement showing his total TDS deducted d...

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Delay in Download of TDS Certificate attracts Penalty

Income Tax - Due Date for downloading and Penalty for non-compliance: Please be advised that under the provisions of section 203 of the Income Tax Act, 1961 read with rule 31A, Certificate of tax deducted at source is to be furnished within fifteen (15) days from the due date for furnishing the statement of tax deducted at source. Failure to comply w...

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Form 16 Salary Certificate- Is It different from Form 16A?

Income Tax - What is Form 16A and how is it different from Form 16? If you are not a salaried employee and work as a professional for an organisation and earn fees, then the certificate that shows TDS details deducted while making payments to you is Form 16A....

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The fastest way to generate Form 16 is here!

Income Tax - H&R Block, the India’s largest individual tax services company, offers you the first of its kind Form 16 generation tool, which allows you to generate and distribute form 16 in a flash!...

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Automatic Excel Utility with individual Salary sheet + form 16 + 12BA for A.Y. 2013-14

Income Tax - This utility can be used for Government and Non Government Employees. Utility Automatically Prepares for 16, Form 12BA, Calculates TDS deductible, HRA Exemption , Deduction Under Chapter VIA etc.Utility is for Assessment year 2013-14 or Financial Year 2012-13 and can be used for upto 50 Employees. ...

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Automatic Form 16 with 12BA for F.Y. 2012-13 & A.Y. 2013-14

Income Tax - Automatic Form 16 with 12BA for Financial Year 2012-13 & Assessment Year 2013-14 in Excel Format Download Automatic Form 16 Utility...

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Download Form-16 with 24Q + 26Q (Annual Return) in Excel Format

Income Tax - Automated Form 16 Preparation Software which can prepare at Form 16 of 50 Employees from the details of 24Q Annual Return Form. Master Form-16 New Financial Year 2012-13 / Assessment Year 2013-14 Master Form-16 New Financial Year 2011-12 / Assessment Year 2012-13 ...

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Form 16 Excel Utility for F.Y. 2012-13

Income Tax - This Excel utility is fully automated. Just put the data in Data input sheet and it will prepare the Form-16 automatically. User can also take printout of Form 16 prepared through this utility. Format if form 16 is latest and applicable from A.Y. 2013-14 and F.Y. 2012-13....

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TDS credit cannot be denied for non matching with 26AS if Assessee produces TDS Certificate

Sumit Devendra Rajani Vs ACIT (Gujarat High Court) - The grievance which is voiced in the present petition by the assessee is that though deductor ­employer ­ Amar Remedies Limited had deducted TDS for total Rs.5,86,606/­ and for which Form 16 A has been issued by it, department has not given credit of the said TDS to the petitioner­ assessee...

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Instruction for Processing of ITR-2, 3, 4, 5 & 6 with Form 26AS / 16A / 16

Instruction No. 10/2017 - (15/11/2017) - Total income or loss shall be computed after making adjustment for addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms) which has not been included in computing the total income in the return....

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Due date to furnish form 16 (Salary Certificate) extended to 15th June

Notification No. 42/2017 [G.S.R 546(E)] - (02/06/2017) - Due date of furnishing Annually Form 16 (Salary Certificate) is extended from 31st day of May of the financial year immediately following the financial year in which the income was paid and tax deducted to 15th day of June....

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Part A of Form 16 to be generated from TRACES portal & Part B Manually

Circular No. 4/2013-Income Tax - (17/04/2013) - CIRCULAR NO. 4/2013-Income Tax The deductor, issuing the Part A of Form No. 16 by downloading it from the TRACES Portal, shall, before issuing to the deductee authenticate the correctness of contents mentioned therein and verify the same either by using manual signature or by using digital signatur...

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Income-tax (Sixth Amendment) Rules, 2010 – Substitution of rules 30, 31, 31A, 31AA, 37CA, and 37D; Form Nos. 16, 16A and 27D; insertion of Form No. 24G and omission of rule 37A – Corrigendum to Notification No. 41/2010, dated 31-5-2010

Notification No. 55/2010-Income Tax - (19/07/2010) - Notification No. 55/2010-Income Tax In the Notification of Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), number 41/2010 dated 31st May, 2010 bearing S.O. 1261(E) and published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (...

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Recent Posts in "Form 16"

Understand Your Form 16

Form 16 becomes quite a topic of discussion in all office campuses during the tax filing season. Though we know that Form 16 is for tax filing, many of us still find it hard to understand the components of Form 16 while filing the return. Understanding Form 16 is the key to better tax planning....

Read More
Posted Under: Income Tax |

What if Employer refuses to issue TDS Certificate / Form 16

The employee has a right to obtain the TDS certificate in form 16 from his employer. The certificate details should be filled in return of income, since no credit for TDS can be given without it. In case your employer fails to issue the TDS certificate, he shall be liable to a penalty of Rs. 100/- for each day of default u/s 272A(2)g). T...

Read More
Posted Under: Income Tax | ,

Form 16/16A v/s 26AS online annual statement

Form 16 or 16A are provided by employer to employee as a proof of tax deduction. At the end of the financial year, tax payers file their income tax returns (ITR) from the income tax details provided in form 16 or 16A. On the other side, as a part of e-governance, tax payer is provided 26AS annual statement showing his total TDS deducted d...

Read More
Posted Under: Income Tax |

Delay in Download of TDS Certificate attracts Penalty

Due Date for downloading and Penalty for non-compliance: Please be advised that under the provisions of section 203 of the Income Tax Act, 1961 read with rule 31A, Certificate of tax deducted at source is to be furnished within fifteen (15) days from the due date for furnishing the statement of tax deducted at source. Failure to comply w...

Read More
Posted Under: Income Tax | ,

Form 16 Salary Certificate- Is It different from Form 16A?

What is Form 16A and how is it different from Form 16? If you are not a salaried employee and work as a professional for an organisation and earn fees, then the certificate that shows TDS details deducted while making payments to you is Form 16A....

Read More
Posted Under: Income Tax | ,

Automated Form 16 Part B for F.Y.2017-18

Click here to Download Automated Income Tax Form 16 Part B for Financial Year 2017-18 / Assessment Year 2018-19 in excel format...

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Posted Under: Income Tax |

Addition of income appearing in Form 26AS ,16A, 16 but not included in returned Income

Clause (a) of the said sub-section provides that at the time of processing of return, the total income or loss shall be computed after making the adjustments specified in sub-clauses (i) to (vi) thereof....

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Posted Under: Income Tax |

Instruction for Processing of ITR-2, 3, 4, 5 & 6 with Form 26AS / 16A / 16

Instruction No. 10/2017 (15/11/2017)

Total income or loss shall be computed after making adjustment for addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms) which has not been included in computing the total income in the return....

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Beware before claiming any deduction/allowance in Income Tax Return which was not considered in Form 16/16A

This amendment is going to hit hard for those Income Tax Assessee’s (Majorly Salaried Employees) who used to make manipulative claims of allowances (LTA, medical, HRA etc) or deductions (Section 80C, 80D) in Return of Income and claims refund of TDS deducted from Salary....

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Posted Under: Income Tax |

Due date to furnish form 16 (Salary Certificate) extended to 15th June

Notification No. 42/2017 [G.S.R 546(E)] (02/06/2017)

Due date of furnishing Annually Form 16 (Salary Certificate) is extended from 31st day of May of the financial year immediately following the financial year in which the income was paid and tax deducted to 15th day of June....

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