Under the new scheme Form 16/16A shall not be issued manually. A deductor shall download Form No. 16/16 A from the online system. The generation of firm 16/16A shall be based on the Form 26Q submitted by the Deductor. The tax credit shall be directly linked to the submission of TDS Returns. Every 16 /16A Form shall also have a unique Number and that number shall be used by the assessees for filling their returns.
So when the Form 16 /16A shall be issued online there shall not be any difference in claiming & depositing the TDS. Moreover the activity shall be quarter to quarter basis so there is a scope to rectify the mistakes in the next quarter except the last one.
NSDL has agreed to it and hopefully when implemented shall be a relief to crores of Assessees.
CA AMRESH VASHISHT, FCA, LLB,DISA(ICAI)
Note:In fact 16A is available after Tan Login at tin-nsdl.com Do not Copy/Paste on other website/blog/forum site,we may demand compensation from you.However ,You may Provide only link back to our site. Service Tax Rate Chart Wef 01.06.2015 on all Services