Taxexcel: now it is mandatory to download salary certificate Form 16 Part A from the TRACES Portal

Monday 30 March 2015

Download Automated Master of Form 16 Part B for FY 2014-15 [ This Excel Utility can prepare at a time 100 employees Form 16 Part B]. No need to prepare manual Form 16 Part B, if you use this handy Excel Utility which is most ease to generate and easy to install in any computer]

Main Feature of this Utility :-

Prevent double entry of Pan Number and Name of Employee
Automatic Calculate Tax of each employee after filling the Salary Structure
This Excel Utility can use both of Govt and Non-Govt Concerned
This Utility can reduce your time to prepare Form 16 Part B
All of Tax Feature as per the Budget 2014
Automatic Convert the Amount in to the In Words.

You have a question that what is the Form 16 Part B and how to prepare this Form 16 Part B and which Item have in this Form 16 Part B. Given below the all answer with CBDT Notification Number.

Income-tax department has issued Circular No 04/2013 dated April 17, 2013 in respect of Form 16.

New Form 16

Revised Form 16 has been notified vide Notification 11/2013 dated 19.02.2013

Form 16 has two distinct parts :-

Part A : contains details of tax deduction and deposit

Part B : contains details of salary and total income

Form 16 has to be issued on or before May 31, 2014 in respect of Financial Year 2014-15

Procedure for Issuance

Now vide Circular 04/2013, a deductor is required to issue

1) Part A of Form 16 by downloading the same from TRACES web site

2) Part B of Form 16 is to be prepare & issue by deductor manually

Form 16 Part A generated from TRACES PORTAL will contain unique TDS Certificate Number

Form 16 Part A by Govt. deductors, who make TDS payment by book entry , is also to be issued by generating and downloading from TRACES

Authentication of Form 16

Form 16 must be signed manually or using digital signature

Analysis

Issuing Form 16 will be a challenge for deductors for FY 2014-15, as this involves two distinct parts being issued from two different sources.

Part A will have to be generated and downloaded from TRACES & Part B will have to be prepared manually or using a third party software.

Download Automated Form 16 Part B for FY 2014-15 ( This Excel Utility can prepare One by One Form 16 Part B)

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Saturday 26 April 2014

Notification No.11/2013 of CBDT about New format of Form 16 Part A & B

Most of the employee and the various concerned have yet not known that the Format of Form 16 have already Changed and also the Form 16 Part A is Mandatory to download from the TRACES Portal (www.tdscpc.gov.in). In this light here is give below the Notification of the CBDT.

Highlights

The Form 16 recently notified1 had two parts – Part A and Part B. Part A contains details of tax deducted and remitted and Part B contains details of income. The Central Board of Direct Taxes (CBDT) has now notified that Part A of Form 16 containing the Unique Identification Number will be issued by the employer by generating and subsequently downloading the same from the TRACES2 (TDS Reconciliation Analysis and Correction Enabling System) Portal.

Key Requirements

Employer to download Part A of the Form 16 from the TRACES Portal and authenticate the correctness of the contents mentioned therein before issuing to the employee. Part B of the Form 16 will be prepared manually and issued to the employee after due verification. Part A and B can be either digitally or manually signed.

Form 16 to be issued by the employer containing both Part A and B by 31 May 2013. Form 16 issued in the manner prescribed and containing Unique Identification Number will only be considered to be valid.

The Director General of Income-tax (Systems) will specify procedure, formats and standards for downloading Part A of Form 16 and will be responsible for the day to day administration

Form 16 Part B ( where the employees Salary Details)

In this Notification also it is Mandatory to prepare the Form 16 Part B where given the employees Salary Details, must be prepare by the Employer. In this Regard below given a unique Excel Based Software which can prepare your Form 16 Part B , you can prepare by this Excel Based Software more than 1000 employees form 16 Part B. Download the Excel Based Automated Form 16 Part B from the below link:-

1) Click here to Download One by One Preparation Automated Form 16 Part B For the Financial Year 2013-14 and Assessment Year 2014-15

2) Click here to Download Master of Form 16 Part B ( Which can prepare at a time 50 employees Form 16 Part B) For the Financial Year 2013-14 and Assessment Year 2014-15