Para 4 - Returns how to be furnished - Scheme for Filing of Returns by Salaried Employees through Employer, 2004

Returns how to be furnished. 4. The Scheme is optional and provides an additional mode of furnishing returns of income by persons deriving income from salaries. On his option, an eligible employee may furnish his return through his employer under the Scheme, as per the following procedure :— (i) On receipt of the certificate of tax deducted at source from the income chargeable under the head 'Salaries' in Form No. 16AA from the employer, the eligible employee shall verify the information given in the said Form as correct, complete and true in accordance with the provisions of Income-tax Act, 1961 in respect of his income chargeable to income-tax for the relevant assessment year and furnish the same after being signed and verified by him to the employer before the due date specified in sub-section (1) of section 139 of the Income-tax Act, 1961. (ii) On receipt of duly signed and verified Form No. 16AA from an 'eligible employee', the employer shall furnish the return of income of the eligible employee in Form No. 16AA to the Assessing Officer and obtain an acknowledgement. (iii) The employer shall ensure that the return of income is furnished to the Assessing Officer on or before the due date specified in sub-section (1) of section 139 of the Income-tax Act, 1961. (iv) The employer shall distribute acknowledgements obtained from the Assessing Officer to the respective eligible employees.