Under Section 203 of Income tax Act, 1961, Every employer whether in Government sector or in private sector, is required to issue in form 16, a certificate for tax deducted at source  (TDS) from salary. This Excel based automatic form 16  can be used both by companies or non companies for issue of form 16 to their employees.

As per Rule 31(2) of Income Tax Rules, 1962 the following particulars are required in the  form16:

1. Permanent Account Number (PAN) of the employee

2. Tax Deduction Account Number of the employer

3. Basic Statistical Return (BSR) Number if the tax is deposited through a bank. This is also called as "Challan Indentification Number".

4.  Book Identification Number if tax deducted is deposited without a challan in case of Government employer.

5.  Receipt Numbers of all the quarterly statements/returns of tax deducted at source under the head salaries.

The form 16 is required to be furnished to employees annually latest by 31st May of the assessment year  for

the financial year for which tax has been deducted.

Automatic Form 16 Part A&B for FY 2014-15 [ This Excel Utility can Prepare at a time 100 Employees Form 16 Part A&B]  DOWNLOAD UTILITY

Issue of Form 16

As per CBDT Circular No. 04/2013 dated 17 ^th April, 2013, issue of form 16 for deduction of tax at source made on or after 31^st March of every Financial Year  shall be in two parts as under:

Part-A

All deductors (including Government deductors) shall issue the Part A of Form No. 16, by generating and subsequently downloading through TRACES Portal, in respect of all sums deducted under the provisions of section 192 of Chapter XVII-B.Part A of Form No 16 shall have a unique TDS certificate number. Part-A can not be issued manually by the Employer/Deductor.

Part-B

‘Part B (Annexure)’ of Form No. 16 shall be prepared by the deductor/Employer manually and issued to the deductee after due authentication and verification along with the Part A of the Form No. 16.

Below given Excel based auto fill Form 16 is very simple and user friendly. The user is required to fill the data in White Cell ( As Required) Excel Form 16 is updated automatically with ease. For comfort in filling, This Excel Utility Can prepare at a time 50 or 100 employees Form 16 Part B for FY 2014-15.

It automatically calculates the amount of allowable deductions under Chapter VIA and applicable income tax on the total income also gets auto calculated. Macro should be enabled to use this form. 

Download Master of Form 16 Part B for FY 2014-15 [ This Excel Utility can Prepare at a time 100 Employees Form 16 Part B ] DOWNLOAD UTILITY

On March 11, 2015 by www.taxexcel.net

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Click here to download All in One TDS On Salary FY 14-15All in One TDS on Salary for Private Concerned employees for the Financial Year 2014-15[ This Excel Utility can prepare at a time your Tax Compute Sheet+Arrears Relief Calculation+ Form 10E+HRA Calculation+ Form 16 Part A&B and Part B]

Deduction under Section 80CCD

Section 80CCD provides for Income Tax deductions for contributions made to the notified Pension Scheme of the Central Govt i.e. for contribution to the National Pension Scheme (NPS). Deduction under this Section is only available to Individuals and not to HUF’s. The Individual claiming deduction under this Section may be Resident or Non-Resident.

Section 80CCD(1): Deduction to NPS Scheme for Contribution by the Individual

Deduction under Section 80CCD(1) is not only available to Salaried Individuals but non-salaried individuals can also contribute to the NPS Scheme and avail deduction for the same.

The maximum amount allowed as a deduction under Section 80CCD(1) is:-

• In case of an employees: 10% of his salary for the financial year (Salary includes Dearness Allowance but excludes all other Allowances and Perquisites)
• In case of non-employees: 10% of the Gross Total Income in the Financial Year

As per Section 80CCE, the total maximum deduction allowed under Section 80C, Section 80CCC & Section 80CCD(1) is limit to Rs. 1 .5 Lakh. This is a combined aggregate deduction of Rs. 1.5 Lakh and no separate deduction has been prescribed for each of these sections. The Individual can choose to invest under any of these sections subject to an aggregate total deduction limit of Rs. 1.5 Lakh.

SECTION 80CCD(2): DEDUCTION TO NPS SCHEME FOR CONTRIBUTION BY THE EMPLOYER

In case any employer contributes to the NPS Scheme on behalf of the employee and the benefit of the same would be availed by the employee, the employee would also be allowed a deduction under Section 80CCD(2) for the amount of contribution made by the employer.

The contribution made by the employee himself to the NPS Scheme would be allowed as a deduction under section 80CCD(1) and the contribution made by the employer to the NPS Scheme would be allowed as a deduction under Section 80CCD(2).

There is a maximum limit for deduction for contribution made by the Individual himself under Section 80CCD(1) as mentioned above. But for contribution made by the employer to the NPS Scheme for benefit of employee, there is no maximum limit for deduction allowed under Section 80CCD(2). The Deduction under Section 80CCD(2) is over and above the deduction of Rs. 1 Lakh under Section 80C + Section 80CCC + Section 80 CCD(1)

TAX ON AMOUNT RECEIVED BACK FROM THE NATIONAL PENSION SCHEME

The contribution made to the NPS Scheme would be received back by the employee as Pension after retirement or on surrender of the policy (as the case may be). The amount so received as Pension or on closure of the NPS Account either by the individual himself or by the nominee which has earlier been claimed as a deduction under Section 80CCD, would be regarded as Income in the hands of the recipient and would be taxed as per the Income Tax Slabs in the year of receipt.

• If the amount received by a taxpayer has been used for purchasing an annuity plan in the same year in the year of receipt, the taxpayer would be deemed to have not received any amount from the NPS Scheme and therefore no tax would be levied on the same.

On November 15, 2014 by www.taxexcel.net

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1) Click here to download Automated Form 16 Part B ( This Utility Can prepare one by one Form 16 Part B for the FY 2013-14 and AY 2014-15)

2) Click here to download Automated Master of Form 16 Part B ( This Excel Utility can prepare at a time 50 employees Form 16 Part B for the Financial Year 2013-14 )

3) Click here to Download Master of Form 16 Part B with 12 BA( This Excel Based utility can prepare at a time 50 employees Form 16 Part B with 12 BA for the Financial Year 2013-14)

4) Click here to Download Master of Form 16 Part A&B ( If you can not able to download Form 16 Part A from the Traces Portal, You can download the Form 16 Part A&B for FY 2013-14)

Income Tax Department "TRACES" (www.tdscpc.gtov.in) a new Portal had been made for only TDS Certificate and many more. Salary Certificate Form 16 Part A is mandatory to download TRACES. TDS Certificate for Salaried Employee from TRACES (New Website of TDS) form the  Assessment Year 2012-13 by its new circular 4/2013 dated 17.04.2012 for TDS Deductor on or after 01.04.2012. Download request for Form No. 16 for a particular Financial Year can be submitted only after Form 24Q statement for Q4 for the selected Financial Year is filed by deductor and processed by TDS CPC.

So Now you can not download your Form 16 (Part-A) from TRACES portal.

Procedure to Download Form No. 16 :

Select from Menu:

• Go to webside https://www.tdscpc.gov.in/

• Login to TRACES as a deductor by entering User Id and Password and clicking on ‘Go’.

• Landing page will be displayed.

• Under ‘Downloads’, click on ‘Form 16’ to place download request.

• Form 16 can be downloaded from FY 2007-08 onwards

• For a given FY, TAN and PAN, there will be only one Form 16. In case of more than one employer, a        PAN holder can have those many Form 16s Enter Search Criteria

• For individual PANs, select Financial Year for which Form 16 is required and enter PAN and click on       ‘Add’

• Valid PANs will be added to the list. Select a PAN and click on ‘Remove’ to remove it from the list.

• Click on ‘Go’ to proceed with download request

• For downloading Form 16 for all PANs , select Financial Year for which Form 16 is required and click         on ‘Go’ Token Number Details (Contd.)

• Enter Authentication Code if the validation is done earlier and you have the Authentication Code

• Enter Token Number of only Regular (Original) Statement corresponding to the Financial Year,                     Quarter and Form Type displayed above

• Tick in Check Box for NIL Challan or Book Adjustment (Government Deductor)

• Government deductors not having BIN details tick here and need not need provide BSR and Challan             Serial Number below

• Click on Guide to select suitable Challan option

• Enter CIN details for a challan used in the statement

• Tick here if you do not any Valid PAN corresponding to above Challan details

• Click on Guide to select suitable PAN amount Combinations

• PANs entered must be those for which payment has been done using the CIN / BIN entered on this             screen

Details to be printed on Form 16

• This information will be printed on Form 16 for each PAN. Details will be populated from your profile information in TRACES

• Click on ‘Submit’ to submit download request for Form 16

• Click on ‘Cancel’ and go to ‘Profile’ section to update details

Download File

• Click on ‘Requested Downloads’ under ‘Downloads’ menu to download Form 16 text file

Search File to Download

• Enter Request Number (Search Option 1) or Request Date (Search Option 2) to search for the download request submitted for Form 16

• Click on ‘View All’ to view all download requests

• Click here if you are facing difficulty in PDF Generation Utility

Search Results

• Click on a row to select it

• Click on the buttons to download file

Convert .ZIP File into PDF or Click Here

• ZIP file downloaded from TRACES will contain Form 16 details for all requested PANs

• Download ‘TRACES PDF Generation Utility’ from the website and install it on your desktop

• Pass the ZIP file through the utility to convert it into individual PDF files for each PAN

• User can opt to digitally sign the Form 16s during conversion

• Deductor can also opt to manually sign the PDF files after printing

e-Tutorial to Download Form No. 16 (Salaried Employee) Click Here

On April 28, 2014 by www.taxexcel.net

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