FORM 16
Certificate under Section 203 of Income Tax Act, 1961 read with Rule 31(1)(a) for tax deducted at source from income chargeable under the head "Salaries". And has to be issued in new format of Form 16
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FORM 16A
Certificate under Section 203 of Income Tax Act, 1961 read with Rule 31(1)(b) for tax deducted at source in respect of income other than Salary. And has to be issued in new format of Form 16A
Some Useful Tips Regarding Form 16/ 16A
What is Form 16 / 16A?
It is the certificate of deduction of tax at source by any person in accordance with Chapter XVII-B of IT Act.
Form 16 is issued on deduction of tax by the employer on behalf of the employee under section 192 of IT Act, 1961.
Form 16A is issued if the deduction of tax is under any other provision of Chapter XVII-B of IT Act.
These certificates provide details of TDS / TCS for various transactions between deductor and deductee. It is mandatory to issue these certificates to Tax Payers u/s 203 of IT Act, 1961.
Is there any format for these certificates?
Form 16 / 16A are issued as per the provisions of Rule 31(1).
How are these forms generated?
These forms shall be generated by TDS CPC on processing the quarterly TDS / TCS statements filed by deductor. Deductor will have to raise a request for the same on TRACES. Deductor shall have the option to digitally sign the certificates or in some cases can be issued manually.
What is the due date for the issue of these certificates?
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