Who can responsible to Issue the Form 16 ? It is mandatory to issue the Salary Certificate Form 16 to the employee by the employer with Automated Form 16 for F.Y 2016-17

This is the common demand regarding issuing of Form-16 by the Employer to Employee, even if Employer not deducts any Tax from drawn salary.  What shall happen when Employee want's his Salary Certificate Form-16 for the same year.  In such situation, Employer is liable to issue Form-16 to each and every who have already hold the PAN Card.

However, your employer must issue a salary Certificate Form 16 who already holds the PAN Card as per the Income Tax Instruction. Income Tax  Certificate (Form-16) is applicable to such employee who has submitted his Income like as salary or other income (any amount) not deducted or not, during current Financial Year.  If the Employee deducts any amount of Tax during Financial Year, Form-16 must be issued to Employee u/s. 203 of Income Tax Act.

As per the Reserve Bank of India has already circulated to all Nasalized Bank for issuing the form 16 to the Pension Holder. 

This Salary Certificate is most important to PAN Holder who has to work in any sector, like as when any employee who’s Tax not Payable or not fall into the Income Tax Slab, but he gets the Form 16 as his/her proof of Income, which is the need for various purpose.

When any employee willing to get the Bank Loan from any Bank of Branch, the respective Bank asking the Salary Certificate Form 16 as he falls the Tax Slab or not. But the Bank’s requirement the Salary Certificate for giving the Bank Loan either he/she can not be able to get the Bank’s Loan.

Download the Automatic Form 16 for the Financial Year 2016-17 from the below-given link:-    

1 )    Automated One by One Preparation Form 16 Part B for FY 2016-17 [This Excel Utility can prepare One by One Form 16 Part B ]   

2)      Automated One by One Preparation Form 16 Part B and Part A&B for FY 16-17 [ This Excel Utility can prepare One by One Part A&B and Part B both for FY 2016-17]  

   

3)      Automated Master of Form 16 Part B for FY 2016-17 (This Excel Utility can prepare at a time 50 persons Form 16 Pat B )   

4)  Automated Master of Form 16 Part A&B for FY 2016-17 (This Excel Utility can prepare at a time 50 persons Form 16 Pat A&B )   

5)  Automated Master of Form 16 Part B with Form 12 BA for FY 2016-17(This Excel Utility can prepare at a time 50 persons Form 16 Pat B with 12 BA)

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Download Automated Master of Form 16 Part B with Form 12 BA for the Financial Year 2016-17

Download Automated Master of Form 16 Part B with Form 12 BA FY 2016-17 [ This Excel Utility can prepare at a time 50 employees Form 16 Part B with 12 BA for Financial Year 2016-17]

For the person earning income from Salary, documents Form 16, and Form12BA  are provided by an employer which has details about his salary, perquisites, and tax deducted at source(TDS) by his employer.Looked into details of Form 16. Form 12BA give details of Perquisites given by the employer to the employee had looked into what are perquisites, what income tax laws apply to it, about the valuation of perquisites and the taxation with an example, which perquisites are exempted from tax, Difference between Perquisite, Allowance, and Fringe benefit. In this article, we shall see how Form 12BA shows the information about perquisites.

Form 12BA

Form 12BA is a statement showing particulars of perquisites, other fringe benefits or amenities, and profits in lieu of salary with value thereof. 

Form No. 12BA, if the amount of salary paid or payable to the employee is more than one lakh and fifty thousand rupees, which shall accompany the return of income of the employee. [Explanation: “Salary” for the purposes of this rule shall have the same meaning as given in rule 3.] 

 Note: The limit has changed to one lakh and eight thousand (1,80,000) by circular in 2011.

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Mandatory to Download the Form 16 Part A from TRACES PORTAL, Plus Automatic Form 16 Part B for Financial Year 2016-17

Government notifies mandatory verification of Part A of Form No. 16 (employer certificate) for Financial Year 2016-17 –Unique Identification Number mandatory, Vide Notification Number 11-2013 Dated 19-2-2013

Click here to Download Automatic Form 16 Part B for the Financial Year 2016-17 ( This Excel Utility can prepare at a time 50 employees Form 16 Part B) 

The Form 16 recently notified¹ had two parts – Part A contains details of tax deducted and remitted and Part B contains details of income. The Central Board of Direct Taxes (CBDT) has now notified that Part A of Form 16 containing the Unique Identification Number will be issued by the employer by generating and subsequently downloading the same from the TRACES² (TDS Reconciliation Analysis and Correction Enabling System) Portal.

Click Here to Download 100 employees the Automatic Master of Form 16 Part A&B for F.Y.2016-17 ( This Excel Utility Can prepare at a time 100 employees Form 16 Part A&B)

Employer to download Part A of Form 16 from the TRACES Portal and authenticate the correctness of the contents mentioned therein before issuing to the employee. Part B of Form 16 will be prepared manually and issued to the employee after due verification. Part A and B can be either digitally or manually signed.

Form 16 to be issued by the employer containing both Part A and B by 31 May 2013. Form 16 issued in the manner prescribed and containing Unique Identification Number will only be considered to be valid.

The Director-General of Income-tax (Systems) will specify procedure, formats, and standards for downloading Part A of Form 16 and will be responsible for the day to day administration 

Click here to Download 100 employees Form 16 Part B for F.Y.2016-17 [ This Excel Based Utility can prepare at a time 100 employees Form 16 Part B for F.Y.2016-17]

To download the Part A of Form 16 from the TRACES Portal, the employer will have to register itself with the TRACES portal. For registration with the TRACES Portal and downloading the Form 16, the authorised signatory signing the Form 16 must have a PAN. In absence of a PAN, the Form 16 cannot be downloaded from the TRACES Portal. This could create a practical difficulty where authorised signatory of the foreign employer does not have a PAN in India.

Click here to Download Automated Master of Form 16 Part B with 12 BA for F.Y.2016-17 & A.Y.2017-18 [ This Excel utility can prepare at a time 50 employees Form 16 Part B with 12 BA]

It is pertinent to note that Part A of Form 16 downloaded from the TRACES Portal would contain the same details as reflecting in the Annual Tax Credit Statement (Form 26AS) of the employee. This initiative will help in reducing the

Discrepancies in the TDS amounts as per the Form 16 issued by the employer and the details reflecting in the Form 26AS of the employee.

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