Issue of Form 16

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Anil (Querist)
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15 July 2008 Form 16 / Form 16A is to be issued within 1 month from the close of the year.

IN CASE amount is credited on the last day of the year Form 16 / Form 16A is to be issued within 2 months 7 days from the end of the year.

Query:

Suppose amount is credited on 31 March. Does one has to issue form 16/ form 16A for amounts credited upto 30 March of the year before 30 April and another Form 16 / Form 16A for amount credited on 31 March before 7 June?

CA. Vineet Grover

CA. Vineet Grover (Expert)
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15 July 2008 Hi Anil,

Form 16 is issued annualy only once in a year.

YOu have to issue the same by 30th April.

As regards Form 16A, the same need to be issued on monthly / quarterly basis. So in this case you may extend the date of issue of certificate for deduction made on 31st March.

Rgds/
Vineet

Anil

Anil (Querist)
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15 July 2008 Dear Sir,

Thanks for your reply.

Certificate to be issued in BOTH form No. 16/ 16A within 2 months and 7 days from end of F.Y. in case of amount credited on last day of financial year.

Please refer below mentioned website link:

https://incometaxmumbai.nic.in/taxpayer/tds.htm

Specially refer the last point given in the chart.

Revert back with answer to my original question after referring the above mentioned link.

Thanks

Anil

Anil (Querist)
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15 July 2008 Also notice that there is provision for issue of Form 16A on monthly basis. But there is NO PROVISION for issue of Form 16A on quarterly basis.

If you hold a contrary view kindly give me book/section/rule/website reference.

Thanks