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 31st March of every Financial Year shall be in two parts as under:
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 (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.