Good news for all employers and Payroll professionals!
Recently, Income Tax India (CBDT) systems has amended the rule 31 of Income tax Rules 1962. As per new rule form 16 Part A and Part B (A complete TDS certificate form 16 shall be available from trace website to download and issue to employee.
1st April 2018 on wards, every employer shall issue the form 16 Part B (Annexure) from trace only along with Part A. You can say Now, complete form 16 to be given by income tax only not employer.
But in case, employee are claiming for exemptions under section 10 (Apart form 10(5), 10(10), 10(10A) , 10(10AA) and 10(13A) ) than employer have to fill the form 16 item no. 2f. Complete information given below.
The item nos. 2(t) and 10(k) in Part B (Annexure) of Form 16 required to be filled-in by the deductor manually shall be made available at the bottom of the TRACES generated Form 16 (Part B) and the deductor shall duly fill details, where available, in item numbers 2(t) and lOCk) before furnishing of Part B (Annexure) to the employee. The deductors who opt to uthenticate Part B of Form No. 16 manually will be provided with the download of the Part B of Form No. 16 alongwith these item nos. 2(t) and lOCk) appearing at the bottom of the Form. The deductor shall duly fill details, where applicable, in item numbers 2(t) and 10(k) before furn ishing of Part B (Annexure) to the employee. The deductors who opt to authenticate Part B of Form No. 16 using Digital Signature Certificate (DSC) will be provided with the download of Part B of Form No. 16 without item nos. 2(t) and 10(k) and therefore these details shall be required to be prepared by the employer and issued to the employee, where applicable, before furni shing of Part B to the employee.
Part A of Form 16 shall be download from Trace only.
Part B of Form 16 shall be download from Trace only.
A Complete form 16 TDS certificate shall be issued by Trace Income tax India only.
Employer will update form Part B of Form 16 in case employee are claiming exemption in item no 2(f) of form 16 and any deduction allowed by employer in item no 10(k) o form 16.
Part B is mandatory in case employee has submitted PAN to employer and employer has finished in salary return (form 24Q).
Authentication or verification of TDS certificate Form 16 both parts downloaded from trace to be done by employer or you can say final issuing correct form 16 tds certificate responsibility of employer only.
Employer also will issue form 12BA from own records in case employee is getting perk benefit more than 150000.
Manual form 16 part B will not issue from 1st April 2018 onward.
I believe, You are searching a free tool which can merge or combine Part A and Part B in 1 PDF in automation process. if yes, you are at right place.
As per Income tax India Form 16 TDS Certificate Part A should be download and convert from Trace website (tdscpc.gov.in) and Employer have to prepare Part B of Form 16. Both Should be Merged in One PDF for digital signature process.
Every Employee or professionals are looking a tools which can help in this process. Three are many software available in market / google search to do the same but they are paid.
But, trust me you can Merge any two more pdfs in 1 pdf in excel sheet without any wasting money in very simple way and fast.
I have developed a Excel sheet which can use N numbers of times and you can merge 2 different folders PDF files in 1 PDF as per your customization.
You can download this sheet from www.99Excel.Com and watch the below video to learn tutorial.
Click here to download income tax calculator in excel slab wise. This sheet have the excel formulas to along with marginal tax relief as per FY 2019-20.
Click here to download automatic Complete Payroll Calculator in Excel. This Excel Software have includes most likely all part of Payroll Calculation. It’s Includes following Feature:-
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General workers in all shops and commerical establishments other than in administration and clerical cadre and who are not covered in any of the above categories
This is to bring to your information that Haryana Government has amended the Punjab Labour Welfare Fund Act in its application to Haryana State. As per the notification from now onwards the contribution in Haryana with effect from March’2019, shall be
Employee = 0.2% of employee salary/wages every month (subject to a limit of Rs.25)
Employer = Twice the employee contribution. Provided, that the limit specified above shall be indexed annually to the consumer price index beginning from 1st January every year. The notification is attached herewith for reference
The Supreme Court has held that special allowances paid by an employer to its employees have to be included in “basic wage” for deduction towards provident fund. Now All Allowances (Not HRA) will be part of PF wages.
However If Basic Wages and other allowances collectively are more than 15,000/- per month than the employer has an option to limit wages for provident fund contribution to INR 15,000/- per month
This video about to how to calculation of PF on allowances and what amount come to as extra cost on employer side and net pay reduce for employee.