regarding form 16
This query is : Resolved
21 July 2010
is it Mandotary for issuing Form 16A &16 issued quarterly or yearly from 2010-2011.
Regards
Regards
21 July 2010
Certificate of tax deducted at source or tax paid under sub-section (1A) of section 192
31. (1) The certificate of deduction of tax at source or, the certificate of payment of tax
by the employer on behalf of the employee, under section 203 shall be in –
(a) Form No.16 if the deduction or, payment of tax, is under section 192; and
(b) Form No.16A if the deduction is under any other provision of Chapter
XVII-B.
(2) The certificate referred to in sub-rule (1) shall be furnished to the deductee3
(a) within one week after the date on which the sum of tax deducted at
source is paid to the credit of the Central Government if the payment in
respect of which the tax so deducted is by way of crediting on the date
upto which the accounts of the deductor are made;
(b) within one month from the end of the financial year in which the payment
is made to the deductee if-
(i) the deduction of tax is made under sub-section (1) of section 192;
(ii) the certificate relates to payment of tax by the employer on behalf
of the employee under section (1A) of section 192;
(iii) the deduction of tax is made under section 194D; or
(iv) more than one certificate is required to be furnished to a deductee
for deductions of income-tax made during a financial year and the
deductee has requested for issue of a consolidated certificate in
respect of such deductions;
(c) within fourteen days from the date of payment of income-tax if the
payment is made quarterly under sub-rule (2) of rule 30;
(d) within one month from the end of the month in which the deduction of
tax at source is made, in all other cases.
31. (1) The certificate of deduction of tax at source or, the certificate of payment of tax
by the employer on behalf of the employee, under section 203 shall be in –
(a) Form No.16 if the deduction or, payment of tax, is under section 192; and
(b) Form No.16A if the deduction is under any other provision of Chapter
XVII-B.
(2) The certificate referred to in sub-rule (1) shall be furnished to the deductee3
(a) within one week after the date on which the sum of tax deducted at
source is paid to the credit of the Central Government if the payment in
respect of which the tax so deducted is by way of crediting on the date
upto which the accounts of the deductor are made;
(b) within one month from the end of the financial year in which the payment
is made to the deductee if-
(i) the deduction of tax is made under sub-section (1) of section 192;
(ii) the certificate relates to payment of tax by the employer on behalf
of the employee under section (1A) of section 192;
(iii) the deduction of tax is made under section 194D; or
(iv) more than one certificate is required to be furnished to a deductee
for deductions of income-tax made during a financial year and the
deductee has requested for issue of a consolidated certificate in
respect of such deductions;
(c) within fourteen days from the date of payment of income-tax if the
payment is made quarterly under sub-rule (2) of rule 30;
(d) within one month from the end of the month in which the deduction of
tax at source is made, in all other cases.
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