CBDT substitutes Form 16 and Form 24 Q issued under Income Tax Act, 1961
Central Board of Direct Taxes (CBDT) had issued a Notification No 36/2019 to further amend the Income Tax Rules, 1962.
Key points of the Notification are:
- Part B of the Form No. 16 ( i.e. Certificate for tax deducted at source from income chargeable under the head “Salaries”) has been substituted.
- Annexure II of the Form No. 24 Q ( i.e. Quarterly Statement of deduction of tax in respect of salary ) has been substituted.
The Notification shall come into effect from 12th day of May, 2019.
Source: Income Tax Department