Changes to Form 16 in Webpay

Form 16 Source: http://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/pdf/itr62Form12BA.pdf Changes:

1. CIT Address, City and Pin Code added in Form 16. You can add this in TDS deductor master under statutory settings menu


2. In Form 12 BA TDS range added: You can add this in TDS deductor master under statutory settings menu


3. TDS Certificate No.: Default value picked is Company Name + FY + Empcode. However you enter the value yourself in employee master under Position details of employee. You will find TDS certificate no. field there in. Whatever you enter would get published in Form 16.


4. Taxable Reimbursements like Medical and LTA are added under Section 17(2) Perquisites. To do this there is change in paycode master. You need to map the Medical and LTA reimbursement with Section 17(2).


5. A new section 17(3) profit in lieu of salary is also added in paycode master. You can create a variable paycode and map that with Section 17(3).


6. Section 80 CCF is published separately in Form 16.


7. The amount is now right aligned.


8. The son and daughter caption used for responsible person is picked as per gender selected for responsible persion in deductor master.

Blog by BBSPL