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

forwarded to EDP Dept. for punching by preparing lot of 100 forms.
After the punching these forms the printout of the same is forwarded to
income tax section for detailed checking in order to ascertain that the
pouching is carried out correctly and to ensure that the rebate is given
correctly in order to avoid excess / short deduction of Income Tax by
salaries of the employees.
Filing of Return
394
As mentioned earlier at end of every financial year Income Tax
section files a return of TDS on or before 31 st of May every year.
Before, filing the returns, the amount actually remitted every
month is reconciled with the amount deducted towards Income Tax from
the paysheet for the past 12 months (i.e. from February to March).
Once the figure is reconciled the printout of individual Income Tax
certificate i.e. Form No.16 is taken out and issued to individual
employees on or before the 30 th of April every year, after the same is duly
certified by the Officials of Time Keeping Department.
Form 16 is issued alongwith 12D in which following amount of
taxable perquisites is shown.
Taxable perquisite includes.
1. Petrol issued for personal use.
2. Residential quarters given by charging standard rent.
3. Conveyance allowance more than Rs.1,200/- pm.