Under Section 203 of
Income tax Act, 1961, Every employer whether in Government sector or in private
sector, is required to issue in form 16, a certificate for tax deducted at
source (TDS) from salary. This Excel based automatic form 16 can be
used both by companies or non companies for issue of form 16 to their
employees.
As per Rule 31(2) of
Income Tax Rules, 1962 the following particulars are required in the
form 16:
1. Permanent Account Number (PAN) of the
employee
2. Tax
Deduction Account Number of the employer
3. Basic Statistical Return (BSR) Number if the
tax is deposited through a bank. This is also called as "Challan Identification Number".
4. Book Identification Number if tax
deducted is deposited without a challan in case of Government employer.
5. Receipt Numbers of all the quarterly
statements/returns of tax deducted at source under the head salaries.
The form 16 is required to be furnished to
employees annually latest by 31st May of the assessment year for the
financial year for which tax has been deducted.
Issue of Form 16
As per CBDT Circular No.
04/2013 dated 17 th April, 2013, issue of form 16
for deduction of tax at source made on or after 01-04-2012 shall be in two
parts as under:
Part-A
All deductors (including
Government deductors) shall issue the Part A of Form No. 16, by generating and
subsequently downloading through TRACES Portal, in respect of all sums deducted
on or after the1st day of April, 2012 under the provisions of section 192 of
Chapter XVII-B.Part A of Form No 16 shall have a unique TDS certificate number. Part-A
can be issued manually after verifying the same by using a digital signature or
by manual signature.
Part-B
It automatically calculates
the amount of allowable deductions under Chapter VIA and applicable income tax
on the total income also gets auto calculated as per the Finance Budget 2015-16
and all Amended Income Tax Section have in this Excel Utility.
Download Automated Master of Form 16 Part B for Financial Year 2015-16 [ This Excel Utility can prepare at a time 50 employees Form 16 Part B for Financial Year 2015-16 and Assessment Year 2016-17]
Macro should be enabled
to use this form. Users are advised to read help file first.