Sunday, February 26, 2012

FORM 16 FORM 16A 12BA EXCEL PDF DUE DATES 2012


on Sunday, February 26, 2012

(A) Tax Deduction Certificate For Salaried Employees(form 16)

In respect of Tax deducted at source in Financial year 2011-12 ,every employer must issue a certificate of deduction of tax at source to every employee from whom tax has been deducted.(section 203).

Form No 16(in pdf):To All employee from whom tax has been deducted in Fy 2011-12
No Form 16 required if NIL tax deducted :The above Forms are TDS deduction forms so if no tds has been deducted then above forms are not required to be issued .

Banks releasing Pension to pensioners is also bound to issue Form 16 if TDS has been deducted By the bank(circular 761,13.01.1998)

Time limit:By 31st day of May of the financial year immediately following the financial year in which the income was paid and tax deducted


Update
 :Please Note that Form 16A now(01.01.2013) shall be available through new website www.tdscpc.gov.in only .Read more from links given below
  1. Procedure How  to register at TRACES (www.tdscpc.gov.in) and 
  2. How to download Form 16A form TRACES (www.tdscpc.gov.in)





Due date ETDS return 24Q, 26Q 27Q and Form16 ,Form 16A
Sl. No.
Quarter ending
From 01.11.2011 on wards For Govt offices 
For other deductors
Etds return
Form 16A
Etds return
Form 16A
1
30th June
31st July
15th August
15th July
30th July
2
30th September
31st October
15th November
15th October
30th October
3
31st December
31st January
15th Feburary
15th January
30th January
4
31st March
15th May 
30th May        (31st May   for form 16)
15th May
30th May        (31st May for form 16)


For FY 2011-12,Certificate should be given by 31.05.2012.

If employee has worked under two employers in Fy 2011-12:If an assessee is employed by more than one employer during the year, each of the employers shall issue Part A of the certificate in Form No. 16 pertaining to the period for which such assessee was employed with each of the employers and Part B may be issued by each of the employers or the last employer at the option of the assessee.

The Income tax department had clarified on 13-4-2004 that in case of  employees working with more than one employer in a financial year, each employer had to show only the details of  salary paid by him and TDS deducted by  him in Form 24(Form 24Q now) issued  by him. From the same analogy, Form  16 is to be issued by each employer  separately.

However, in practice in  many organisations, particularly banks,  insurance companies etc., the last employer issues Form 16 for the entire year which covers the salary and tax details of earlier employers also. Just because some deductors are  not doing their duty properly, it does not mean that all others also be asked  to follow the incorrect practice. And even if this practice was to be allowed,  the single certificate could be allowed  in all cases. Giving the option to the  employee would complicate things  further.

The employer should be free  to formulate the policy for issue of a  consolidated/ separate Form 16 and not be left at the mercy of employee  for the same. Issue of a consolidated  certificate for 70 per cent employees  and separate ones for the balance 30  per cent or vice –versa would result in more confusion and chaos. And who knows, the employee may take Form 16 from each employer individually and then request the last employer to issue a consolidated one too.

How the last employer would certify the details of salary, TDS deducted and deposited  of another employer also remains to be seen.

Whether he should insist and keep the original of Form 16 from the previous employers or

whether a declaration/certificate from the previous employer/employee would suffice?

Clarifications are needed from the CBDT on such issues.Till that in view employer should issue form 16 and annexure for his period only as done in earlier year.Means report tax deducted and deposited by him and salary detail paid by him only.

Form 12BA(in PDF): Form 12BA is required to be attached with form 16 if perks has been provided to the employees ,stating detail and value of the perquisites provided to the employee As per the new Form 16, the value  of perquisites is to be as per Form 12BB.  but there is no such form as 12BB. It seems that the person drafting the new form was newly married and in his dreams he mentioned the forms as 12bb instead of 12bA. Even otherwise, it is difficult to handle even 1  bb(wife), who can dare to think of a dozen!!  males do not chuckle, it is equally applicable to husbands also.  This beautiful mistake had crept in the last Form 16 (which was later on scrapped) but the mistake  has been retained in the current form also. by the corrigendum dated 19th July, 2010, this mistake has been rectified in case of perquisites but it still persists in case of profits in lieu of salary in the very next line of Form 16!!!

.If employer fails to furnish this form where ever required without reasonable cause,he shall be liable to penalty at the rate of 100 for every day during which the failures continues.

Digital signature: digital signature on Form 16 by employer is allowed (circular 2/2007 dated 21.05.07)

Quoting Etds Acknowledgment number in form 16and 16A: On form 16 ,receipt number for etds returns of all the quarter is required to be filled , for last quarter etds return , due date is 15 May,2012,where as due date for form 16 is 31.05.2012.Department has clarified that if Etds Return has not been filed for the last quarter on the issue date of Form 16 ,then fill "not available as the last quarterly statement is yet to be furnished" against the relevant column of the form 16.

Penalty for Failure to issue Form 16(section 272A):Employer shall be liable for a penalty at the rate of 100 for every day during which failure continues,if delay is without reasonable cause.Total penalty under section 272A,200(3),203,206,should not exceed the amount of tax deductible at source.

Issue of Duplicate Form:The deductor may issue a duplicate certificate in Form No. 16 or Form No. 16A if the deductee has lost the original certificate so issued and makes a request for issuance of a duplicate certificate and such duplicate certificate is certified as duplicate by the deductor.


Form 16AA abolished from Fy 2010-11:Form 16AA was a TDS certificate cum income tax return for low paid  employees. This lost relevance when  new IT return forms were notified few  years ago. but it appears that taxmen  were too busy with other things and  they did not get time to strike it off from  the statute books. Thankfully, this has  been done now and Form 16 has to  be issued in case of all employees.  Additionally, Form 12bA in respect of perquisites has to be issued in  case of employees drawing salary  exceeding  R1.50 lakh per annum.  Even this form could be omitted as information about perquisites is not separately being asked for in Form 24Q also. This form is mainly for the  consumption of employees as in this era of annexure less returns the same is not to be furnished to the income tax department. but who knows, details of  perquisites may stage a comeback in Form 24Q as the controversial Fringe benefit Tax (FbT) has been abolished.

(B) Tax deduction form For non -salary deduction (FORM 16A in Pdf )

Tax deducted in fy 2011-12,deductor must issue TDS certificate on Form 16A quarterly  .

Time Limit:Quarterly,Within fifteen days from the due date for furnishing the statement of tax deducted at source under rule 31A.Yearly Forms can not be issued in any case.

For q4 (1/2012to 3/2012) due date is 30.05.2012


TDS Certificates Form 16A for Financial Year 2011-12
  • For the following categories of deductors,  it is mandatory to download Form 16A from TIN Web Site and issue such downloaded certificates to deductees
    • Companies
    • Banks
    • Co-operative society engaged in banking business
  • For other deductors, it is optional to download Form 16A from TIN Web site
  • Such downloaded TDS certificate will have a unique TDS Certificate Number
  • This procedure is applicable for all deductions made on or after 01-04-2011


Digitally Signing Form 16A
  • A deductor has option to digitally sign Form 16A .
  • However this option is available only in respect of Form 16A downloaded from TIN Website.
  • TDS Certificates not downloaded from TIN web site will  have to be manually signed


Rules regarding penalty & duplicate form issue and acknowledgment number in form 16A are same as given in form 16.

Compulsory Informations:The certificate 16 and 16A shall specify:-

(a) valid permanent account number (PAN) of the deductee;
(b) valid tax deduction and collection account number (TAN) of the deductor;
(c) 
  •  (i) book identification number or numbers where deposit of tax deducted is without production of challan in case of an office of the Government;
  • (ii)challan identification number or numbers in case of payment through bank.
(d)
  • (i) receipt number of the relevant quarterly statement of tax deducted at source which is furnished in accordance with the provisions of rule 31A;
  • (ii) receipt numbers of all the relevant quarterly statements in case the statement referred to in clause (i) is for tax deducted at source from income chargeable under the head “Salaries”.

Update
 :Please Note that Form 16A now(01.01.2013) shall be available through new website www.tdscpc.gov.in only .Read more from links given below

  1. Procedure How  to register at TRACES (www.tdscpc.gov.in) and 
  2. How to download Form 16A form TRACES (www.tdscpc.gov.in)

Download Form 16A in Excel Format Fy 2011-12

Tags:Form 16 In Excel Format With Formula 2011 Download Notice

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  1. Sir:
    This is regarding capital gain on properties.

    1.I purchsed a land in chennai in the year 1996 for Rs.60,000/-
    2.Power given to a builder for JV to built flats.
    3.As per JV 40% of the sale proceeds to me which works out to 60 lakhs.
    4.I intend to have a flat in my name but the builder says he can only register the UDS of the flat in my wife's name. (Value 37Lakhs), Balance he will give cash which I intend to invest in ahouse in our joint name.
    5. Please let me why I can'the register the flat in my name to reduce the capital gain tax. Or is it Ok if it is registered in my wife's name.

    Please let me have a clear reply to reduce the tax burden.

    Thanks

    ReplyDelete