Income-tax (Third Amendment) Rules, 2007 - Substitution of Form No. 16, Form No. 16A and Form No. 27D - 083/2007 - Income Tax

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Income-tax (Third Amendment) Rules, 2007 - Substitution of Form No. 16, Form No. 16A and Form No. 27D Notification No. 83/2007 [F. No. 142/44/2006-tpl], dated 26-3-2007 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:— 1. (1) These rules may be called the Income-tax (Third Amendment) Rules, 2007. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962, in APPENDIX II, for Form No. 16, Form No. 16A and Form No. 27D, the following Forms shall be substituted, namely:— "FORM NO. 16 [See rule 31(1)(a)] Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source from income chargeable under the head "Salaries" Name and address of the Employer Name and designation of the Employee …………………………………………………….………… ……………………………………………………... …………………………………………………….………… ……………………………………………………... …………………………………………………….………… ……………………………………………………... …………………………………………………….………… ……………………………………………………... PAN No. of the Deductor TAN No. of the Deductor PAN No. of the Employee Acknowledgement Nos. of all quarterly statements of Period Assessment TDS under sub-section (3) of section 200 as provided Year……... by TIN Facilitation Centre or NSDL web-site Quarter Acknowledgement No. From To DETAILS OF SALARY PAID AND ANY OTHER INCOME AND TAX DEDUCTED 1.Gross Salary (a)Salary as per provisions contained in section 17(1) Rs…… (b)Value of perquisites under section 17(2) (as per Form No. 12BA, wherever applicable) Rs…… (c)Profits in lieu of salary under section 17(3) (as per Form No. 12BA, wherever applicable) Rs……. (d) Total Rs…… 2.Less : Allowance to the extent exempt under section 10 Allowance Rs…… 3.Balance (1-2) Rs….. 4.Deductions : (a) Entertainment allowance Rs…. (b) Tax on employment Rs…. 5.Aggregate of 4(a) and (b) Rs……. 6.Income chargeable under the head 'Salaries' (3-5) Rs……. 7.Add : Any other income reported by the employee Rs…. Rs……. 8.Gross total income (6+7) Rs……. 9.Deductions under Chapter VI-A Rs…… (A)sections 80C, 80CCC and 80CCD Gross Deductible amount Amount (a) section 80C (i)……………… Rs……. (ii) ……………… Rs……. (iii) ……………… Rs……. (iv) ……………… Rs……. (v) ……………… Rs……. (vi) ……………… Rs……. Rs……. (b) section 80CCC Rs……. Rs……. (c) section 80CCD Rs……. Rs……. Notes : 1. Aggregate amount deductible under section 80C shall not exceed one lakh rupees 2.Aggregate amount deductible under the three sections, i.e., 80C, 80CCC and 80CCD, shall not exceed one lakh rupees (B) other sections (e.g., 80E, 80G, etc.) under Chapter VI-A Gross amount Qualifying amount Deductible amount (a) section ......... Rs. ..... Rs. ..... Rs. ..... (b) section ......... Rs. ..... Rs. ..... Rs. ..... (c) section ......... Rs. ..... Rs. ..... Rs. ..... (d) section ......... Rs. ..... Rs. ..... Rs. ..... (e) section ......... Rs........ Rs. ..... Rs. ..... 10. Aggregate of deductible amount under Chapter VI-A Rs. ..... 11. Total income (8-10) Rs. ..... Rs. ..... 12. Tax on total income Rs. ..... Rs. ..... 13. Surcharge (on tax computed at S. No. 12) Rs. ..... 14. Education Cess @ 2% on (tax at S. No. 12 plus surcharge at S. No. 13) Rs. ..... 15. Tax payable (12+13+14) Rs. ..... 16. Relief under section 89 (attach details) Rs. ..... 17. Tax payable (15-16) Rs. ..... 18. Less: (a) Tax deducted at source u/s 192(1) Rs. ..... Rs. ..... (b) Tax paid by the employer on behalf of the employee u/s 192(1A) on perquisites u/s 17(2) Rs. ..... Rs. ..... 19. Tax payable/refundable (17-18) Rs. ….. Details of tax deducted and deposited into Central Government account (The Employer is to provide transaction-wise details of tax deducted and deposited) S. No. TDS Rs. Surcharge Rs. Education Cess Rs. Total tax deposited Rs. Cheque/ DD No.(if any) BSR Code of Bank branch Date on which tax deposited (dd/mm/yy) Transfer voucher/ Challan Identification No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. I, …......................................................, son/daughter of …...................................................... working in the capacity of …........................ (designation) do hereby certify that a sum of Rs. …......................... [Rupees …............................................ (in words)] has been deducted at source and paid to the credit of the Central Government. I further certify that the information given above is true and correct based on the books of account, documents and other available records. Place…............ …...................................................................... Date…............. Signature of the person responsible for deduction of tax Full name ….............................................. Designation …............................................ FORM NO. 16A [See rule 31(1)(b)] Certificate of deduction of tax at source under section 203 of the Income-tax Act, 1961 For interest on securities; dividends; interest other than "interest on securities"; winnings from lottery or crossword puzzle ; winnings from horse race; payments to contractors and sub-contractors; insurance commission; payments to non-resident sportsmen/sports associations; payments in respect of deposits under National Savings Scheme; payments on account of repurchase of units by Mutual Fund or Unit Trust of India; commission, remuneration or prize on sale of lottery tickets; commission or brokerage; rent; fees for professional or technical services; royalty and any sum under section 28(va); income in respect of units; payment of compensation on acquisition of certain immovable property; other sums under section 195; income in respect of units of non-resident referred to in section 196A; income from units referred to in section 196B; income from foreign currency bonds or shares of an Indian company referred to in section 196C; income of Foreign Institutional Investors from securities referred to in section 196D. Name and address of the person deducting tax Acknowledgement Nos. of all Quarterly Statements of TDS under sub-section (3) of section 200 as provided by TIN Facilitation Centre or NSDL web-site Name and address of the person to whom payment made or in whose account it is credited Quarter Acknowledgement No. TAX DEDUCTION A/C NO. OF NATURE OF PAN NO. OF THE PAYEE THE DEDUCTOR PAYMENT PAN NO. OF THE DEDUCTOR FOR THE PERIOD TO DETAILS OF PAYMENT, TAX DEDUCTION AND DEPOSIT OF TAX INTO CENTRAL GOVERNMENT ACCOUNT (The Deductor is to provide transaction-wise details of tax deducted and deposited) S. No. Amount paid/ credited Date of payment/ credit TDS Rs. Surcharge Rs. Education Cess Rs. Total tax deposited Rs. Cheque/ DD No. (if any) BSR Code of Bank Branch Date on which tax deposited (dd/mm/yy) Transfer voucher/ Challan Identification No. 1. 2. 3. 4. Certified that a sum of Rs. (in words).............................. has been deducted at source and paid to the credit of the Central Government as per details given above. Place ................... ................................................................. Date .................... Signature of person responsible for deduction of tax Full name................................... Designation................................. Form No. 27D [See rule 37D] Certificate of collection of tax at source under sub-section (5) of section 206C of the Income-tax Act, 1961 [For collection of tax at source from alcoholic liquor for human consumption; tendu leaves; timber obtained under a forest lease; timber obtained by any mode other than under a forest lease; any other forest produce not being timber or tendu leaves; scrap; or from contract or licence or lease in respect of parking lot; toll plaza; mining and quarrying] Name and address of the person collecting tax Acknowledgement Nos. of all Quarterly Statements of TCS under sub-section (3) of section 206C as provided by TIN Facilitation Centre or NSDL web-site Name and address of the buyer or licensee or lessee or a person who awarded the contract Quarter Acknowledgement No. TAX DEDUCTION AND TAX COLLECTION A/C NO. OF THE COLLECTOR ........................................... Nature of goods referred to in the Table in section 206C(1) or nature of contract or licence or lease referred to in the Table in section 206C(1C) PAN NO. OF THE BUYER OR LICENSEE OR LESSEE OR A PERSON WHO IS AWARDED THE CONTRACT PAN NO. OF THE COLLECTOR : .............................. FOR THE PERIOD ....... To ......... Details of payment, tax collection and deposit of tax into Central Government account (The Collector is to provide transaction - wise details of tax collected and deposited) S. No. Amount received/ debited Date of receipt/ debit TCS Rs. Surcharge Rs. Education Cess Rs. Total tax deposited Rs. Cheque/ DD No. (if any) BSR Code of Bank branch Date on which tax deposited (dd/mm/yy) Transfer voucher/ Challan Identification No. Certified that a sum of Rs. ........... (Rupees ............. in words) has been collected at source and paid to the credit of the Central Government as per details given above. Place .................. .................................................................................. Date .................. Signature of the person responsible for collection of tax Full Name........................................... Designation........................................"