07 November 2009
Rule 31 of Income Tax Rules states the following under clause 1 (b) "section 193, section 194, section 194A, section 194B, section 194BB, section 194C, section 194D, section 194E, section 194EE, section 194F, section 194G, 43[section 194-I,] 44[section 194J, section 194K,] 45[section 194LA,] section 195, section 196A, section 196B, section 196C and section 196D shall be in Form No. 16A.]
The heading of the rule is wrongly titled for Salaries u/s 192. But they have indicated same Form 16A. You use this form and issue it within prescribed time limits. Your deductee will get relief. You should take care to issue immediately after you deposit tax so payee will not suffer on account of overlapping assessment years. Our year ends on 31st March but in the other contracting state it will be different.
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