Administration Manual - B.E.S.T. Undertaking.

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The form 16 with form 12BA or form 16 by itself have to be
furnished within the period of a one month from the end of relevant
financial year.
As per section 192(2C), it is an obligatory on part of employer for
furnishing a statement showing the value of perquisites provided to the
employee. It is a serious responsibility of the employer in accordance
with law and rules of valuable of perquisites framed for the same. How
amount of perquisite is determined is shown in enclosed note placed on
Annexure.
Specimen of the form 16 and of 12BA is enclosed at annexure -
It is mandatory or part of the employer to quote TAN no. i.e. TAX
DEDUCTION ACCOUNT NO. in the monthly challan and on TDS
certificate i.e. form 16 and also an assessee has to quote PAN no. i.e.
Permanent A/c No. under section 203A of Income Tax Act 1961.
If a person fails to comply the same then he will be liable to pay by
way of penalty under section 272BA an amount of Rs.10, 000/- and under
section 139A(5B) respectively.
Annual Returns of TDS
Accordingly to provision of section 206 of the income tax act read
with rule 36A & 37 of Income tax rules the employer, i.e. the responsible
office of Undertaking (in case of BEST, Sr.STK) for TDS under section