TMI BlogIncome-tax (26th Amendment) Rules, 2021. - TDS - Furnishing of declaration and evidence of claims by specified senior citizen u/s 194PX X X X Extracts X X X X X X X X Extracts X X X X ..... he specified senior citizen to the specified bank under sub-clause (iii) of clause (b) of explanation to section 194P shall be in Form no. 12BBA to be furnished in paper form duly verified. (2) On furnishing of the declaration in Form No. 12BBA, the specified bank shall, after giving effect to the deduction allowable under Chapter VI-A and rebate allowable under section 87A, compute the total income of such specified senior citizen for the relevant assessment year and deduct income-tax on such total income on the basis of the rates in force. (3) The effect to the deduction allowable under Chapter VI-A shall be given based on the evidence furnished by the specified senior citizen during the previous year. (4) The declaration referred to in sub-rule (1) and evidence for claiming deduction under Chapter VI-A referred to in sub-rule (3) shall be properly maintained by the Specified Bank and shall be made available to the Principal Chief Commissioner of Income-tax or Chief Commissioner of Income-tax, as and when required. (5) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, shall specify procedure for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stituted, namely:- FORM NO. 16 [ See rule 31(1)( a )] PART A Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source on salary paid to an employee under section 192 or pension/interest income of specified senior citizen under section 194P Certificate No. Last updated on Name and address of the Employer/Specified Bank Name and address of the Employee/ Specified senior citizen PAN of Deductor TAN of the Deductor PAN of the Employee/ specificed senior citizen Employee Reference No./ Pension Payment order no. provided by the Employer (If available) CIT (TDS) Address..................... .................................. City................ Pincode................. Assessment Year Period with the Employer From To ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed and deposited to the credit of the Central Government. I further certify that the information given above is true, complete and correct and is based on the books of account, documents, TDS statements, TDS deposited and other available records. (Signature of person responsible for deduction of tax) Place ... Date .... Designation: .. Full Name: ..................... PART B (Annexure-I) In relation to employees for tax deduction under section 192 Details of Salary Paid and any other income and tax deducted A Whether opting for taxation u/s 115BAC? [YES/NO] 1. Gross Salary (a) Salary as per provisions contained in section 17(1) Rs. ... (b) Value of perquisites under section 17(2) (as per Form No. 12BA, wherever applicable) Rs. ... (c) Profits in lieu of salary under section 17(3) (as per Form No. 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. Total amount of salary received from current employer Rs. ... [1(d)-2(h)] 4. Less: Deductions under section 16 (a) Standard deduction under section 16(ia) Rs. ... (b) Entertainment allowance under section 16(ii) Rs. ... (c) Tax on employment under section 16(iii) Rs. ... 5. Total amount of deductions under section 16 Rs. ... [4(a)+4(b)+4(c)] 6. Income chargeable under the head Salaries [(3+1(e)-5] Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of interest on loan taken for higher education under section 80E Rs. ... Rs. ... Gross Amount Qualifying Amount Deductible Amount (i) Total Deduction in respect of donations to certain funds, charitable institutions, etc. under section 80G Rs. ... Rs. ... Rs. ... (j) Deduction in respect of interest on deposits in savings account under section 80TTA Rs. ... Rs. ... Rs. ... (k) Amount deductible under any other provision(s) of Chapter VI‐A section Rs. ... Rs. ... Rs. ... section Rs. ... Rs. ... Rs. ... section Rs. ... Rs. ... Rs. ... section Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ....... Annexure II In relation to specified senior citizen for tax deduction under section 194P A Whether opting for taxation u/s 115BAC? [YES/NO] 1. Gross Salary (a) Pension as per provisions contained in clause (ii) of section 17(1) Rs. ... 2. Total amount of salary received Rs. ... 3. Less: Deductions under section 16 (a) Standard deduction undersection 16(ia) (b) Tax on employment undersection 16(iii) Rs. ... 4. Total amount of deductions under section 16 [3(a)+3(b)] Rs. ... 5. Income chargeable under the head Salar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (h) Amount deductible under any other provision(s) of Chapter VI‐A section Rs. ... Rs. ... Rs. ... section Rs. ... Rs. ... Rs. ... section Rs. ... Rs. ... Rs. ... section Rs. ... Rs. ... Rs. ... section Rs. ... Rs. ... Rs. ... section Rs. ... Rs. ... Rs. ... (i) Total of amount deductible under any other provision(s) of Chapter VI‐A Rs. ... Rs. ... Rs. ... 9. Aggregate of deductible amount under Chapter VI-A [8(a)+8(b)+8(c)+8(d)+8(e)+8(f)+8(g)+8(h)+8(i)] Rs. ... ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... employer during the year, each of the employers shall issue Part A of the certificate in Form No. 16 pertaining to the period for which such assessee was employed with each of the employers. (ii) Part B (Annexure-I) of the certificate in Form No.16 may be issued by each of the employers or the last employer at the option of the assessee. (iii) Part B (Annexure-II) of the certificate in Form 16 may be issued by the specified bank to a specified senior citizen. 6. In Part A, in items I and II, in the column for tax deposited in respect of deductee, furnish total amount of tax, surcharge and health and education cess. 7. Deductor shall duly fill details, where available, in item numbers 2(f) and 10(k) before furnishing of Part B (Annexure) to the employee. ; (iii) for Form No. 24Q , the following Form shall be substituted, namely:- (iv) for Form No. 26QB , the following Form shall be substituted, namely:- (v) for Form No. 26QC , the following shall be substituted, namely:- vi) for Form No. 26QD , the following Form shall be substituted, namely: Form No.26QD [See section 194M, rule 30(2C), rule 30(6C) and rule 31A (4C)] ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e-tax payment on subsequent date Details of Payment of Tax Deducted at Source (Amount in Rs.) TDS (Income Tax)(Credit of tax to the deductee shall be given for this amount) Interest Fee Total payment Total payment in Words (in Rs.) Crores Lakhs Thousands Hundreds Tens Units * To be updated automatically * ** In dd/mm/yyyy format. Notes 1. Tax to be deducted at higher rates in case provisions of section 206AB is applicable. . [F. No. 370142/11/2021-TPL] ANKIT JAIN, Under Secy. (Tax Policy and Legislation Division) Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii) vide notification number S.O. 969 (E), dated the 26 th March,1962 and last amended vide notification number G.S.R. 604 (E) dated 31.08.2021 - Notification Tax Management India - taxmanage ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
