CBDT or Central Board of Direct Taxes has notified a new format for Form 16. This
requires the break up of the Tax-Exempt Allowances paid to the employee and
also of all tax breaks claimed by them. In the previous format allowed the
companies to give consolidated figures or break-up in different formats for
both, thereby leaving some ambiguity regarding their individual composition.
Prepare At a Time 100 Employees Automated
Income Tax Form 16 Part B (Modified Format) [This Excel Utility Prepare At a time 100 Employees Form 16 Part B in New Format for A.Y. 2020-21]
main feature of this Excel Utility:-
Prepare At time 100 Employees
Excel Based Form 16 Part B ( Modified Format of Form 16 Part B Vide CBDT
Notification No.36/2019 Dated 12/04/2019 ]
All the Amended Income Tax
Section have in this utility as per Budget 2019
You can print individual Form
16 Part B
Most easy to install just
like an Excel File
Easy to Fill the all column
Automatic Convert the Amount
to the In-Words
new Form 16 format was notified on 12th April
2019, by the Central Board Direct Taxes. The format mentioned in the
notification will come into effect from 12th May
2019, which is well ahead of the last date to issue the TDS certificate to the
salaried employees by Employers/ Tax Deductors. Therefore, those issuing Form
16 after this date will have to do so in the new format.
The nature as well as amount of
Tax-Exemption should be mentioned by Employer.
The Part B of form 16 has been amended to
provide the section wise break-up of various exemptions allowed under section
10 of the Income Tax Act.
Form-16 will also contain the break-up of
all the tax-related deductions under section 80C to 80U claimed by taxpayer
from the salary paid to him/ her by your employer.
If a taxpayer has received salary from his/
her ex-employer or other employer during the previous year and same has been
reported to the current employer for TDS purposes, then separate reporting is
required in case of such a salary income new Form 16.
Standard deduction, announced in the Budget
2018, has also been introduced in Form16 under the head ‘Deduction
under section 16’.
Now, income apart from salary is confined
and can only be reported under Income from