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IT Form 16 Changes for Salary Employees | Form 16 New Changes in Income Tax 2019-20

Posted by CET Notification 2019 | Online Apply Dates | Model Papers | Answer Key | Syllabus | Results on Friday, April 19, 2019


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IT Form 16 Changes for Salary Employees | Form 16 New Changes in Income Tax 2019-20

IT Form 16 Changes for Salary Employees | Form 16 New Changes in Income Tax 2019-20. Income tax Form 16 changes will come into effect from May 12, 2019. Every year Submit Income Tax Form 16 changes for Mothly Salary Employees. Form 16 add additional details from May 12, 2019. AP Salary Employees Submit Income Tax Form 16 some changes add this year 2019-20. Income Tax New Form 16 Salary TDS, New Salary TDS Form 16  Download. Model Income Tax  New Form 16 released by Income tax official. What Changes in IT Form 16 Official Model form.



IT Form 16 Changes for Salary Employees | Form 16 New Changes in Income Tax 2019-20

IT Form 16 Changes for Salary Employees | Form 16 New Changes in Income Tax 2019-20
IT Form 16 Changes for Salary Employees 2019-20

IT ఫారం 16 లో మార్పులు

ఏప్రిల్ 12 న నోటిఫై అయిన ఈ ఫారం 16 మే 12 నుండి అమలు లోకి వస్తుంది.
2018-19 ఆర్థిక సంవత్సరం గాను ఐటీ రిటర్న్లు సవరించిన ఫారం 16 ఆధారంగానే సమర్పించవలసి యూటుంది.

Amendment under Section VI in Form 16 (Deduction)

  1. life insurance premium paid, contribution to PPF etc., under section 80C
  2. Contributions to pension funds under section 80CCC
  3. Employee’s contribution to a pension scheme under section 80CCD(1)
  4. Taxpayer’s self contribution to a notified pension scheme under section 80CCD(1B)
  5. Employer’s contribution to a pension scheme under section 80CCD(2)
  6. Health insurance premium paid under section 80D
  7. Interest paid on loan acquired for higher education under section 80E
  8. Donations made under section 80G
  9. Interest income on savings account under section 80TTA

ఫారం 16 లో కొత్త మార్పులు

ఇంటికి వచ్చే ఆదాయం,
ఉద్యోగి కనుక ఇల్లు గాని,ప్లాట్ గానికొనుగోలుకు సంస్థాగతగాని సంస్థల నుండి రుణం తీసుకొంటే వాటి పాన్ నెంబర్ జత చేయాలి,
జులై 31 లోపు సేవింగ్స్ ఖాతా లోని డిపాజిట్ల పై వడ్డీ తీసివేత వివరాలు నమోదు చేయాలి.
రెబెట్, సర్ చార్జి వంటి వాటిని పొందుపర్చాలి.
ఉద్యోగులు ఐటీ రిటర్నన్ లను జులై 31లోగా దాఖాలు చేయాలి.
సెక్షన్ 80సి, 80సిసిడి, 80ఇ, 80జి 80 TTA కింద తీసివేతలను వేరు వేరు గా పొందుపర్చాలి.
స్టాండర్డ్ deduction తో పాటుసెక్షన్ 10 కిందమినహాయింపు క్లైములు పొందుపర్చాలి.
కాష్ Equalment of లీవ్ శాలరీ ఎంకేషమెంట్ సెక్షన్ 10.


New Changes Income Tax Form 16 Official Model Form

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 : ……………………………

THE GAZETTE OF INDIA : EXTRAORDINARY

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.”;

(B) in Form No. 24Q, for “Annexure II”, the following “Annexure” shall be substituted, namely:–

Notes:


1. Salary includes wages, annuity, pension, gratuity (other than exempted under section 10(10)), fees, commission, bonus, repayment of amount deposited under the Additional Emoluments (Compulsory Deposit) Act, 1974 (8 of 1974), perquisites, profits in lieu of or in addition to any salary or wages including payments made at or in connection with termination of employment, advance of salary, any payment received in respect of any period of leave not availed (other than exempted under section 10 (10AA)), any annual accretion to the balance of the account in a recognized provident fund chargeable to tax in accordance with rule 6 of Part A of the Fourth Schedule of the Income-tax Act, 1961, any sums deemed to be income received by the employee in accordance with sub‐rule (4) of rule 11 of Part A of the Fourth Schedule of the Income-tax Act, 1961, any contribution made by the Central Government to the account of the employee under a pension scheme referred to in section 80CCD or any other sums chargeable to income-tax under the head 'Salaries'.
2. Where an employer deducts from the emoluments paid to an employee or pays on his behalf any contributions of that employee to any approved superannuation fund, all such deductions or payments should be included in the statement.
3. Permanent Account Number of landlord shall be mandatory furnished where the aggregate rent paid during the previous year exceeds one lakh rupees.
4. Permanent Account Number of lender shall be mandatory furnished where the housing loan, on which interest is paid, is taken from a person other than a Financial Institution or the Employer.”.

Download IT Form 16 Changes for Salary Employees
IT New Form 16 Download, Form 16 New Format, Income Tax Form 16 New Changes in the annual salary TDS to Employees. Changes in Form 16 change Salary Employees ITR filing 2019-20.
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