Form 16: New format for salary TDS certificate makes it difficult to fudge income, tax breaks – The Economic Times

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  • < 1 minute
  • By Taxmann
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  • Last Updated on 28 October, 2020
April 17, 2019
 
Chartered Accountant, Naveen Wadhwa, DGM, Taxmann.com says:

 
Chartered Accountant, Naveen Wadhwa, DGM, Taxmann.com says, “In existing Form 16 (Part B), the employer had an option to provide a description of the exempt allowance. Consequently, every organization had created different formats as per their requirements, which resulted in different formats of Part B of Form 16. The new Form 16 (Part B) has removed this option to write-down the description of exempt allowances. Now the employers have to mention the amount of exempt allowance before earmarked fields.”

 

 

 

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