financial services · Income Tax

CBDT extends Form 16 issue date to July 10; ITR filing due date may also get extended

The government is likely to make an announcement regarding extension of due date for filing income tax return for the financial year 2018-19. Meanwhile, the last date for ITR Filing is already out that is July 31. In context with this, the Central Board of Taxes (CBDT) has issued a notification extending the last date… Continue reading CBDT extends Form 16 issue date to July 10; ITR filing due date may also get extended

financial services · Income Tax

New format of Form 16 for the Assessment Year 2019-20

The CBDT or Central Board of Direct Taxes has notified a new format for Form 16. This requires the break up of the Tax-Exempt Allowances paid to the employee and also of all tax breaks claimed by them. In the previous format allowed the companies to give consolidated figures or break-up in different formats for… Continue reading New format of Form 16 for the Assessment Year 2019-20