form16/16aa

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suresh (Querist)

24 June 2009 I have to issue form 16 to our staff.
i am giving salary details of our staff. can you guide me how to furnish form 16.

Gross salary = Rs.240000/-
IT exemption = Rs.150000/-
HRA Exemption = Rs.60000/-
Travelling All = Rs.9600/-

Tds Deducted 20400 @ 10.30% - Rs.2101/-

Can u Guide me how to prepare form 16.How much i have to show in first columm.Whether i have show 240000 or 240000-150000/-= Rs.90000/-

suresh
9940430919

chetan soni

chetan soni (Expert)

24 June 2009 Note down the point of Form 16 & related information;

1.a = Gross Salary 240000.00
Less :
2.a = Conveyance allowances 9600.00
2.b = HRA Rs. 60000.00

6. Amount under the head Salary Rs. 170400.00
8. Gross total income Rs. 170400.00

11. Total income Rs. 170400.00
12. Tax on above Rs. 2040.00
14. Education cess Rs. 61.00
15. Tax payable Rs. 2101.00
17. Tax payable Rs. 2101.00
18.a = TDS deducted u/s 192(1) Rs. 2101.00
19. Tax Payable/Refundable Rs. NIL.

Thats it.

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