|Compliance||Issue Form 16 to employees for FY 2018-19|
|Applicable To||Every employer deducting TDS on salaries|
|Last Date||10-July-2019 ( Extended )|
|Form||Amended Form 16|
Amended Form 16 is now available for download on TRACES website
Form 16 is to be issued by employers to employees for each financial year. The Form has two parts : Part A and Part B.
Two important changes have taken place in respect of Form 16 this financial year i.e 2018-19
- The format of Form 16 has been amended.
- Both Part A and Part B of Form 16 will have to be downloaded from TRACES. ( However, Part B will be available for download only in respect of Form 24Q filed on or after May 12, 2019 with FVU Version 6.2)
Till financial year 2017-18 , Only Part A of Form 16 was required to be downloaded from TRACES. Employers were free to use third part software to generate Part B. This resulted in non-standard formats of Part B being issued by employers. Now each Form 16 will look identical.
In order to generate Part B of the Form 16, the format of Form 24Q was also amended.
Considering these changes, the due date have already been extended for Form 16 and Form 24Q
|Form||Due Date||Extended To|
|24Q||May 31, 2019||June 30, 2019|
|16||June 15, 2019||July 10, 2019|