Income Tax Department has revised Form 16 With Automated Income Tax Excel Based Form 16 Part B and Part A&B in Revised Format for F.Y. 2019-20

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The amended form will come into
effect from May 12, 2019. In other words,This
means the income tax returns for financial year 2018-19 will have to be filed
on the basis of revised Form 16

However,The Income Tax department has revised Form 16 by
adding various details, including income from house property and remuneration
received from other employers, thereby making it more comprehensive to help
check tax
avoidance.
The
amended form will come into effect from May 12, 2019.
For instance,
This means the income
tax returns
for financial year 2018-19 will have to be filed on the basis of revised Form 16.
Form
16
is a certificate issued by employers, giving details of employees’ TDS
(tax deducted at source) usually by mid June and is used in filing I-T returns.

 The
main feature of this Excel Utility:-

1)  
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 ]

2)  
All the Amended Income Tax
Section have in this utility as per Budget 2019

3)  
You can print individual Form
16 Part  B

4)  
Most easy to install just
like an Excel File

5)  
Easy to Fill the all column

6)  
Automatic Convert the Amount
to the In-Words

The
move is aimed at stricter scrutiny of claims made by assessees to check tax
avoidance or evasion.

The
Income-tax Act, 1961 requires every employer to issue a certificate giving
details of salary along with the tax deducted at source (TDS) of each its
employee in Form 16
 Above all,

It
will also include segregated information regarding

Click on image to see the revised Form 16

The
move is aimed at stricter scrutiny of claims made by assessees to check tax
avoidance or evasion.

In addition, The Income-tax Act, 1961 requires every employer to
issue a certificate giving details of salary along with the tax deducted at
source (TDS) of each its employee in Form 16.

 The
main feature of this Excel Utility:-

7)  
Prepare At time 50 Employees  Excel Based  Form 16 Part B ( Modified Format of Form 16 Part B Vide CBDT
Notification No.36/2019 Dated 12/04/2019 ]

8)  
All the Amended Income Tax
Section have in this utility as per Budget 2019

9)  
You can print individual Form
16 Part  B

10)                    
Most easy to install just
like an Excel File

11)                    
Easy to Fill the all column

12)                    
Automatic Convert the Amount
to the In-Words

It
will also include segregated information regarding deductions under various tax
saving schemes,
. After that, investments
in tax savings instruments, different allowances received by the employee as
well as income from other sources.

Similarly,Among other things, the revised Form 16 will also
include details of deductions in respect of interest on deposits in savings
account, and rebates and surcharge, wherever applicable.

The
I-T department has already notified income
tax
return forms for fiscal 2018-19. Salaried class and those who do not
have to get their accounts audited, will have to file their ITRs by July 31
this year.
Meanwhile,
the income tax department has also modified Form 24Q, which is
furnished by employer to the tax department. It will include additional details
like Permanent Account Number (PAN) of non-institutional entities from whom the
employee has taken loan for buying or constructing housing property.

 The
main feature of this Excel Utility:-

13)                    
Prepare At time 50 Employees  Excel Based  Form 16 Part B ( Modified Format of Form 16 Part B Vide CBDT
Notification No.36/2019 Dated 12/04/2019 ]

14)                    
All the Amended Income Tax
Section have in this utility as per Budget 2019

15)                    
You can print individual Form
16 Part  B

16)                    
Most easy to install just
like an Excel File

17)                    
Easy to Fill the all column

18)                    
Automatic Convert the Amount
to the In-Words

The
Form 16 and Form 24Q have been amended with an intent to make them more
informative. The same has been done in order to bring the Forms in parity with
latest changes made in ITR
Forms
such as disclosure of standard deduction and exemptions claimed under
section 10.

In conclusion, “Earlier,
where the disclosure of various deductions were mentioned in a consolidated
manner, ranging from 80C, 80CCD, 80E, 80G would now be required to be disclosed
separately. These specific disclosures would provide ease to the tax
authorities in understanding the various components of income of the taxpayer
and thereby, facilitating the conduct of scrutiny more precisely,”

 The
main feature of this Excel Utility:-

19)                    
Prepare At time 50 Employees  Excel Based  Form 16 Part B with 12 BA ( Modified Format of Form 16
Part B Vide CBDT Notification No.36/2019 Dated 12/04/2019 ]

20)                    
All the Amended Income Tax
Section have in this utility as per Budget 2019

21)                    
You can print individual Form
16 Part  B with 12 BA

22)                    
Most easy to install just
like an Excel File

23)                    
Easy to Fill the all column

24)                    
Automatic Convert the Amount
to the In-Words



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