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Showing posts with label Automatic Income Tax Form 16 Part B for F.Y. 2019-20. Show all posts
Showing posts with label Automatic Income Tax Form 16 Part B for F.Y. 2019-20. Show all posts

Thursday, 13 February 2020


The 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.