02 January 2013
Form 12B (See Rule 26A)-Form for furnishing details of income under section 192(2) for the year ending 31st March, .....
Form 12BA (See Rule 26A(2)(b))-Statement showing particulars of perquisites, other fringe benefits or amenities and profits in lieu of salary with value thereof
02 January 2013
Form 12B is required to be furnished as per rule 26A by a person joining any organization in the middle of the year and is a form for furnishing the details of income u/s 192(2). It is a form required to be submitted by the new employee to the employer and requires details like : 1) Details of your previous employer Eg. PAN,TAN 2) Breakup of salary 3) Deduction and accreditation of PF and details of Rent Free Accomodation. The details in Form 12B is furnished based on salary slip and Form 16 issued by previous employer. Form 12B is to be submitted even if no TDS was deducted by your previous employer. Although it is not mandatory for the employee, it is advisable to furnish the same so that the new employer can deduct Tax on the cumulative salary.
Form 12BA is required to compute the particulars of perquisites, other fringe benefits and profit in lieu of salary.
02 January 2013
further Addiding to What namrata ji has said this is imporatant otherwise at the time of filing of your income tax return you will have to deposit self assessment tax
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