New Format of Form 16 for A.Y. 2020-21 With Automatic Excel Based Income Tax Form 16 Part B and Form 16 Part A&B in Revised Format.

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 both, thereby leaving
some ambiguity regarding their individual composition. DownloRead More…