Amendment in file format to submit TDS statement for Form 24Q Quarter 4 and changes in Part B of Form 16
Dear Sir / Madam,
As you may be aware, the Income Tax Department has, through, Notification No. 36/2019 dated 12.04.2019 recently made certain changes in Form 24Q Quarter 4 and Part B of Form 16. The revised format is applicable with effect from May 12, 2019 onwards.
All the deductors are requested to download the new free versions of RPU and FVU software from TIN website: https://www.tin-nsdl.com/downloads/e-tds/eTDS-download-regular.html.
Kindly find the attached new format of Form 16 and Form 24Q and the notification for your reference.
Part B (Annexure)
Details of Salary Paid and any other income and tax deducted
1. Gross Salary
(a) Salary as per provisions contained 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 pension 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
clause … Rs. …
clause … Rs. …
clause … Rs. …
clause … Rs. …
clause … Rs. …
… Rs. …
(g) Total amount of any other exemption under section 10 Rs. …
(h) Total amount of exemption claimed under section 10 [2(a)+2(b)+2(c)+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 16(iii) Rs. …
5. Total amount of deductions under section 16 [4(a)+4(b)+4(c)] 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. Total amount of other income reported by the employee [7(a)+7(b)] Rs. …
9. Gross total income (6+8) Rs. …
10. Deductions under Chapter VI-A
Gross
Amount Deductible
Amount
(a) Deduction in respect of life insurance premia, contributions to provident fund etc. under section 80C Rs. … Rs. …
(b) Deduction in respect of contribution to certain pension funds
under section 80CCC Rs. … Rs. …
(c) Deduction in respect of contribution by taxpayer to pension
scheme under section 80CCD (1) Rs. … Rs. …
(d) Total deduction under section 80C, 80CCC and 80CCD(1) Rs. … Rs. …
(e) Deductions in respect of amount paid/deposited to notified
pension scheme under section 80CCD (1B) Rs. … Rs. …
(f) Deduction in respect of contribution by Employer to pension
scheme under section 80CCD (2) Rs. … Rs. …
(g) Deduction in respect of health insurance premia under section 80D Rs. … Rs. …
(h) Deduction in respect of interest on loan taken for higher education
under section 80E Rs. … Rs. …
Gross Amount Qualifying Amount Deductible Amount
(i) Total Deduction in respect of donations to certain funds,
charitable institutions, etc. under section 80G Rs. … Rs. … Rs. …
(j) Deduction in respect of interest on deposits in savings account
under section 80TTA Rs. … Rs. … Rs. …
(k) Amount deductible under any other provision(s) of Chapter VI‐A
section … Rs. … Rs. … Rs. …
section … Rs. … Rs. … Rs. …
section … Rs. … Rs. … Rs. …
section … Rs. … Rs. … Rs. …
section … Rs. … Rs. … Rs. …
section … Rs. … Rs. … Rs. …
… Rs. … Rs. … Rs. …
(l) Total of amount deductible under any other provision(s) of
Chapter VI‐A Rs. … Rs. … Rs. …
11. Aggregate of deductible amount under Chapter VI-A [10(a)+10(b)+10(c)+10(d)+10(e)+10(f)+10(g)+10(h)+10(i)
10(j)+10(l)] Rs. …
12. Total taxable income (9-11) Rs. …
13. Tax on total income Rs. …
14. Rebate under section 87A, if applicable Rs. …
15. Surcharge, wherever applicable Rs. …
16. Health and education cess Rs. …
17. Tax payable (13+15+16-14) Rs. …
18. Less: Relief under section 89 (attach details) Rs. …
19. Net tax payable (17-18) Rs. …
Verification
I, …………………………….., son/daughter of ……………………………………….working in the capacity of
.……………………………… (designation) do hereby certify that the information given above is true, complete and correct and is based on the books of account, documents, TDS statements, and other available records.
Place………………………………… (Signature of person responsible for deduction of tax)
Date……………………………….… Full Name : ……………………………
Notes:
1. Government deductors to fill information in item I of Part A if tax is paid without production of an income-tax challan and in item II of Part A if tax is paid accompanied by an income-tax challan.
2. Non-Government deductors to fill information in item II of Part A.
3. The deductor shall furnish the address of the Commissioner of Income-tax (TDS) having jurisdiction as regards TDS statements of the assessee.
4. If an assessee is employed under one employer only during the year, certificate in Form No. 16 issued for the quarter ending on 31st March of the financial year shall contain the details of tax deducted and deposited for all the quarters of the financial year.
5. (i) If an assessee is employed under 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.
(ii) Part B (Annexure) of the certificate in Form No.16 may be issued by each of the employers or the last employer at the option of the assessee.
6. In Part A, in items I and II, in the column for tax deposited in respect of deductee, furnish total amount of tax, surcharge and health and education cess.
7. Deductor shall duly fill details, where available, in item numbers 2(f) and 10(k) before furnishing of Part B (Annexure) to the employee.”;
Kindly go through and let us know for anything in this regard.
Vishnu Daya Tax Alert
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