Requirements of Form 16 and 12BA in Income Tax

Form 16 is a TDS certificate issued by employer to the employee for the financial year with the details of tax deducted, tax deposited, Challan number, date of deposit, PAN of the employee and employer. Every employer at the time of payment of salaries to employee has to compulsorily deduct TDS at the average rate … Read More » "Requirements of Form 16 and 12BA in Income Tax"

What is TDS Certificate -Form 16 or 16A

TDS certificate is to be issued by each deductor who is deducting income tax and to be furnished to the person from whose income / payment the Income tax has been deducted. The TDS certificate should specify the amount of tax deducted and the rate at which it has been deducted. Its significance to the … Read More » "What is TDS Certificate -Form 16 or 16A"

How to Download Form 16 and Form 16A from TRACE Portal

Downloading Form 16 and 16A is mandatory as per the recent changes to income tax rule, 1962. After downloading, a deductor will be able to issue it to the deductee. Process of Downloading and Creating Form 16 and 16A in PDF Deductor has to register on TRACES Portal After logging into the portal you need … Read More » "How to Download Form 16 and Form 16A from TRACE Portal"

Form 16 & Form 16A – Provisions of Income Tax Act, 1961

A certificate of tax deduction at source or TDS has to be issued by the deductor to the deductee specifying there in the prescribed particulars such as; amount of tax deducted Permanent Account Number ( PAN ) of the Deductee Tax Deduction and Collection Account Number ( TAN )of the Deductor Prescribed Forms as per … Read More » "Form 16 & Form 16A – Provisions of Income Tax Act, 1961"