Form 16 : New format for salary TDS Certificate.

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ComplianceIssue Form 16 to employees for FY 2018-19
Applicable ToEvery employer deducting TDS on salaries
Last Date15-June-2019
FormNew Form 16

CBDT has issued Notification on April 12, 2019 , prescribing changes in Part B of Form 16. This is applicable w.e.f May 12, 2019. Hence TDS certificates in respect of financial year 2018-19 will have to be issued in the new format

Salient Changes : New Details to be shown

  • Details and amount of allowances claimed as exempt
  • Income or loss from house property and income from other sources
  • Total income received from other employers
  • Amount claimed as deduction under section 80C to 80UU separately
  • Standard Deduction

It is clear that the purpose of this new format is to be bring clarity to what needs to be shown, thereby leaving no scope for ambiguity and discretion. Also while the old format , at several places, asked for a summary figure, detailed break-up is now being asked.

Notification : https://www.incometaxindia.gov.in/news/notification_36_2019.pdf