Form 16 Related Articles

Aug - 2024

13

What is the Difference between Form 16 and 16A?

What is the Difference between Form 16 and 16A?

What is the Difference between Form 16 and 16A? "The main difference between Form 16 and Form 16A is that Form 16 is proof of TDS deduction of 'salary income', while Form 16A is proof of TDS deduction of 'income sources other than salary'." Form 16 and Form 16A are both important TDS certificate ...

Aug - 2023

28

How to File ITR 1 Sahaj Form Online for AY 2024-25

How to File ITR 1 Sahaj Form Online for AY 2024-25

How to File ITR 1 Sahaj Form Online for AY 2024-25 As you know, filing an Income Tax Return involves submitting the corresponding income tax form to the relevant tax department. The selection of the appropriate form depends on the nature of your income sources. Among these, the ITR 1 form, more com ...

Aug - 2023

07

TDS Form 16

TDS Form 16

TDS Form 16 Form 16 is essential when filing your income tax return (ITR), particularly for individuals who receive a salary. This document is a Tax Deducted at Source (TDS) certificate, providing a comprehensive overview of an employee's earnings, including salary, allowances, and additional perks ...

Mar - 2021

30

Revised Form 12BA

Revised Form 12BA

Revised Form 12BA Central Board of Direct Taxes (CBDT) issued the Income-tax (3rd Amendment) Rules 2021 vide a Notification dated 11.03.2021. With this amendment, CBDT notified the Revised Form No. 12BA, Revised Form No.16 for Part B (Annexure), and Form No. 24Q Annexure-II. This is released in Gaz ...

Oct - 2019

25

Section 195 - TDS & Income Tax

Section 195 - TDS & Income Tax

Section 195 - TDS & Income Tax Section 195 of the Income Tax Act relates to the TDS (Tax deducted at Source) deductions on income or payments belonging to Non-Resident Indians (NRIs). Section 195 lays down provisions to avoid double taxation on the amount and focuses on the tax rates and deduct ...

Apr - 2019

28

New Form 16 Format

New Form 16 Format

New Form 16 Format The Central Board of Direct Taxes (CBDT) has notified a new format for Form 16. The new format shall be effective commencing from May 12, 2019. The new Form 16 prompts for further details and places additional responsibilities on employers. In this article, we discuss some of the ...

Dec - 2018

24

TDS Form 26Q - Non-Salary Deductions

TDS Form 26Q - Non-Salary Deductions

TDS Form 26Q - Non-Salary Deductions When a taxpayer pays taxes, the payee deducts TDS on certain occasions. Form 26Q is used to file TDS details on payments made other than salary. The form mentions the total amount that is paid during the quarter and the TDS amount that has been deducted. Form 26 ...

Sep - 2018

01

Section 193 of Income Tax

Section 193 of Income Tax

Section 193 of Income Tax Section 193 of the Income Tax Act mandates the withholding of tax at source on the interest earned from securities. In this article, we provide a brief description of Section 193 of the Income Tax Act. Tax Deduction Taxes under this provision are deducted in the event of ...

Aug - 2018

25

Section 194IA of Income Tax

Section 194IA of Income Tax

Section 194IA of Income Tax Section 194IA of the Income Tax Act is a legal provision which mandates the withholding of TDS (Tax Deducted at Source) on immovable property transactions. The provisions of Section 194IA applies to a resident transferee who is indebted to make payments to a resident tra ...

Aug - 2018

24

Section 194IB - TDS on Rent of Property

Section 194IB - TDS on Rent of Property

Section 194IB - TDS on Rent of Property Section 194IB of the Income Tax Act is a provision which is enacted to ensure that TDS or Tax Deducted at Source is withheld on rental payments. As per the Finance Act, 2017, “TDS on Rent” under Section194IB is liable to be deducted by Individuals or HUFs (Hi ...

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