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UNDERSTANDING FORM 16A- A COMPLETE GUIDE

A deductor issues Form 16A for the TDS certificate, a quarterly statement concerning the nature of payments, the amount of TDS, and the deposited TDS payments to the Income Tax department. It includes brokerage, interest, professional fees, contractual payment, rent, etc.

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UNDERSTANDING FORM 16A- A COMPLETE GUIDE

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  1. F O R M 1 6 A TDS FILING INCOME TAX RETURNS CERTIFICATE -FORM 16A- THE TDS CERTIFICATE OTHER THAN SALARY- www.eazybills.com 7068073935

  2. ABOUT US At Eazybills Billing Software, we provide a means to create efficient and reliable billing solutions to businesses of all sizes. We aim to streamline the billing process, automate tasks, and has an ability to enhance the financial management for our clients. At Eazybills Billing Software, we are committed to providing customer support 24×7. Choose Eazybills Billing Software for an efficient, reliable, and hassle- free billing experience. Let us help you simplify your financials to make your business thrive.

  3. FORM 16A- THE TDS CERTIFICATE A deductor issues Form 16A for the TDS certificate, a quarterly statement concerning the nature of payments, the amount of TDS, and the deposited TDS payments to the Income Tax department. It includes brokerage, interest, professional fees, contractual payment, rent, etc. Receipts from a business or profession Sale Proceeds from Capital Assets Additional sources

  4. Deductor's Information- This would comprise necessary information concerning the individual who should make the payment. The data would include elements such as the Name and Address of the Deductor. Deductee's Information- This section would comprise the name and address of the individual and earnings. FORM 16A FORMAT Deductor's Unique Identification- This section would consist of the PAN and TAN of the Deductor. Form 16A consists of the following important elements: Deductee's Unique Identification- This section would consist of the PAN of the Deductee. Total amount due to the Deductee- This section would comprise the total payments made to the Deductee.

  5. IMPORTANCE OF FORM 16A Filing of Income tax returns- The information in Form 16A helps employees file Income Tax returns correctly. It assists employees in reporting their total income, including salary and other sources. Tracking of TDS- It helps every individual to keep an eye on Tax deducted at source (TDS) on their income. It provides a summary of TDS deducted at source. Income Proof- This form works as proof of an individual's total earnings from other sources. Government agencies and financial institutions widely accept this source.

  6. HOW TO DOWNLOAD THE PDF OF FORM 16A LOGS IN TO TRACES (BY DEDUCTOR) 01 02 GO TO THE DOWNLOADS TAB SELECT FORM 16A 03 ENTER THE DETAILS AND CLICK ON GO 04

  7. DIFFERENCE BETWEEN FORM 16, FORM 16A, FORM 16B It is a TDS certificate on income other than salary, like returns on investment, returns on fixed deposit, etc. Financial institutions are bound to issue Tax Deducted at Source certificates at a rate specified by the Government. Form 16 A Form 16 B Form 16 The most common financial document all working employees come across while filing their Income Tax Returns (ITR). It is a TDS certificate on salary if it is above 2.5 lakhs per financial year. It is the TDS certificate on the sale of property. According to the rules of the Government of India, any person who purchases a property like a building or land is liable for Tax Deducted at Source.

  8. CONTACT US www.eazybills.com info@eazybills.com 70680 73935

  9. THANK YOU

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