Friday, May 10

Form-16 new format from FY-2018-19

The CBDT has notified a new format for form-16 vide notification_36_2019 dated 12/04/2019..
The Income Tax department has made  many new changes in format of  Form-16 - the salary TDS certificate.requiring a detailed break-up of salary,tax exempted allowances paid to the employee and also all break-up of deduction claimed by employee.  
Also concurrent changes have been made in the format of TDS return (24Q) filed by employer with the tax department and form-16. Which will allow the taxman to cross check the employee's ITR, Form-16 and employer TDS return.
Now from AY 2019-20 w.e.f 12/05/2019 every employer has to give form-16 part B to his employee in a new format.