CONSULTEASE.COM

Sign In

Browse By

New format for form 16 by the employer

Download Full Pdf of New format for form 16 by the employer by clicking the image below

New format for form 16 by employer

G.S.R. 304(E).—

In exercise of powers conferred by sections 200 and 203 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—

1. Short title and commencement

(1) These rules may be called the Income-tax (3rd Amendment) Rules, 2019. (2) They shall come into force on the 12th day of May 2019.

2. In the Income-tax Rules, 1962, in Appendix II–

(A) in Form No. 16,–

(i) the “Notes” occurring after “Part A” shall be omitted;

(ii) for “Part B (Annexure), the following shall be substituted, namely:–

“Part B (Annexure)

Details of Salary Paid and any other income and tax deduction

       

1

Gross Salary

     

(a)

Salary as per provision container in section 17(1)

 

Rs…

 

(b)

Value of perquisites under section 17(2) (as per Form No. 12BA, wherever applicable)

 

Rs…

 

c)

Profits in lieu of salary under section 17(3) (as per Form No. 12BA, wherever applicable)

 

Rs…

 

(d)

Total

   

Rs…

(e)

Reported total amount of salary received from other employer(s)

   

Rs…

2

Less: Allowances to the extent exempt under section 10

     

(a)

Travel concession or assistance under section 10(5)

Rs…

   

(b)

Death-cum-retirement gratuity under section 10(10)

Rs…

   

c)

Commuted value of leave salary encashment under section 10(10A)

Rs…

   

(d)

Cash equivalent of leave salary encashment under section 10 (10AA)

Rs…

   

(e)

House rent allowance under section 10(13A)

Rs…

   

(f)

Amount of any other exemption under section 10

     

(g)

Total amount of any other exemption under section 10

Rs…

   

(h)

Total amount of exemption claimed under section 10 [2(a)+2(b)+2c)+2(d)+2(e)+2(g)

 

Rs…

 

3

Total amount of salary received from current employer [1(d)-2(h)]

 

Rs…

 

4

Less: Deductions under section 16

     

(a)

Standard deduction under section 16(ia)

Rs…

   

(b)

Entertainment allowance under section 16(ii)

Rs…

   

c)

Tax on employment under section 13(iii)

Rs…

   

5

Total amount of deductions under section 16[4(a)+4(b)+4c)]

 

Rs…

 

6

Income chargeable under the head “Salaries” [(3+1(e)-5]

 

Rs…

 

7

Add: Any other income reported by the employee under as per section 192(2B)

     

(a)

Income( or admissible loss) from house property reported by employee offered for TDS

Rs…

   

(b)

Income under the head other sources offered for TDS

Rs…

   

8

The total amount of other income reported by the employee [7(a)+7(b)]

 

Rs…

 

9

Gross total income (6+8)

 

Rs…

 

10

Rest in the pdf, Click here to download the full pdf of New format for Form 16 by employer

     

 

Stay informed...

Recieve the most important tips and updates

Absolutely Free! Unsubscribe anytime.

We adhere 100% to the no-spam policy.

Profile photo of Consultease Administrator Consultease Administrator

Consultant

Faridabad, India

As a Consultease Administrator I'm responsible for smooth administration of our portal. Reach out to me in case you need help.

See Profile
Opinions & information presented by ConsultEase Members are their own.