Form 16: New format for salary TDS certificate makes it difficult to fudge income, tax breaks
Monday, April 29, 2019 IST
The CBDT has notified a new format for Form 16 – the salary TDS certificate – requiring a detailed break up of tax exempt allowances paid to the employee and also of all tax breaks claimed by him/her. The earlier format allowed companies to give consolidated figures or break-up in different formats for both these thereby leaving some ambiguity regarding their individual composition.
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