CBDT substitutes Form 16 and Form 24 Q issued under Income Tax Act, 1961

CBDT substitutes Form 16 and Form 24 Q issued under Income Tax Act, 1961

April 16, 2019 Fiscal, Industries, states 0

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:

  1. 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.
  1. 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

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