Part A of Form 16 mandatory to Download from the Income Tax TRACES PORTAL And Form 16 Part B Prepare by the Employer

 

 Part A of Form 16 mandatory to Download from the Income Tax TRACES PORTAL And  Form 16 

Part B Prepare by the Employer

 

Read Section 203 of the Income-tax Act, 1961, in accordance with the provisions of Rule 31 of the Income-tax Act, 1962 - Exemption from paragraph

 

Circular number. 4/2013 [F.No.275 / 34/2011-IT (B)], dated 17-4-2013

 

1. Section 203 of the Income-tax Act, 1961 (Act) 203 has been sent in accordance with Rule 31 of the Income-tax Rules, 1962 (Rules). Provides to the deductor to issue a certificate of exemption at source (TDS). Account number (PAN), tax exemption and collection account number (TAN), etc.

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The relevant form for such National TDS Certificate in Form No. 16 and Form No. 16A in case of an exemption under Section 192 under any other provision of Section XVII-B of the Act. The TDS certificate has to be issued annually in Form No. 16 in and the TDS certificate has to be issued quarterly in Form No. 1A.

 

TDS Certificate 16 Form No. Notification as of 19/03 dated 19-2-2013 has two parts as Part A and Part B (Annexure) Part A contains details of tax deduction and deposit and Part B (Annex) income details.

 

2. In order to facilitate TDS procedures including proper administration of law, the Board issued Notification No. 03/2011 dated 13-5-2011 and Notification No. 01-2012 dated 9-04-2012. To issue a TDS Certificate on Form No. 16A after generating and downloading from "TDS Reconciliation Analysis and Correction Enabling System" for all cutters or

(https://www.tdscpc.gov.in) (hereinafter referred to as TRACES Portal) formerly known as TIN Website. The Board has now decided to exercise its powers under Section 119 of the Act as follows: -

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2.1 Subject of Form No. 16 or later for a tax deduction for making source 16:

 

All deductors (including government deductors in case of deposit of TDS in Central Government account through book-entry) shall produce all the amount deducted on 1st or later through Tracks Portal and subsequently issue Part A of Form No. 16 of under Section 192 of Chapter XVII-B April 2012. Part A of Form No. 16 will have a unique TDS Certificate Number.

 

2.2 Certificate of Form No. 16:

By downloading it from the Tracks portal and issuing Part A of Form No. 16, the cutter must prove the accuracy of the material mentioned in it before issuing the cutter and verify it using a manual signature or digital signature by sub-rule (6) of Rule 31. Including.

 

2.3 In other words, part of Form No.16 is created only through the Tracks portal and after proper attestation and verification, all the cutters will issue it.

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2.4 Prepare the ‘Part B (Annexure)’ The detector of Form No. Manually and issue it to the issuer after proper verification and verification along with the part of Form No. 16 mentioned above.

 

Sub-rule (3) sets out the time limit for submission of Form 16 by the cutter to the employee in accordance with Rule 31 of the Rules. Currently, Form 16 should be issued immediately on May 31 of the fiscal year in which income tax and taxes were deducted following

 

3.1 Director General of Income Tax (Systems) from Tracks Portal 1 No. Specify the method, format, and value for the purpose of downloading Form No.16 and be responsible for the day-to-day administration of the procedure, format, and values for the download of Form No. 16 in electronic form.

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3.2 It is further clarified that this circular is in accordance with Part A of Form No.16 issued by the deductors and in accordance with the procedure, format, and standard prescribed by the Director-General of Income Tax (Systems) and with a unique identification number in Rule 31 of the Act. Part A of Form No. 16 under section 203 will be considered as valid consent only in the issue.

 

4. The Hindi version will follow.

-Sd-

(Anshu Prakash)

Director (Budget)

Central Board of Direct Taxes