Excel for
Chartered Accountants

Under Section 203 of Income tax Act, 1961, Every employer whether in Government sector or in private sector, is required to issue in form 16, a certificate for tax deducted at source (TDS) from salary. The Form 16 contains the computation of the income, allowable deductions and rebates, income-tax paybale along with details of tax deducted and depsited by the employer.

Union Budget has made the following changes that would affect the computation in Form 16:

1. Change in the income tax slabs. The basic income tax slab has been raised to Rs. 2.50 lacs from Rs. 2.00 lacs.
2. Investment Limit u/s 80C has been enhanced to Rs. 150000/- in place of Rs. 100000/.
3. The limit for claiming deduction for interest paid on housing loan for self occupied house has been raised from rs. 1.50 lacs to Rs. 2.00 lacs.

Issue of Form 16
As per CBDT Circular No. 04/2013 dated 17^th April, 2013, issue of form 16 for deduction of tax at source made on or after 01-04-2012 shall be in two parts as under:

Part-A
Part A of Form No. 16 contains the details of the tax deposited and is required to be downloaded from TDS Website (TRACES), and can be issued by the employer by manually signing or under a digital signature . Thus , Part A of Form No. 16 shall be issued by all the deductors, only by generating it through TRACES Portal and after duly authenticating and verifying it.

Part-B
‘Part B of the Form contains the computation of the total income of the employee including the details of deductions and rebates allowed. Form 16 is requred to be prepared by the deductoremployer manually and issued to the deductee employee alongwith the Part A of the Form No. 16.

ABCAUS excel based auto fill Form 16 for AY 2015-16 (FY 2014-15) is very simple and user friendly. The user is required to fill the data in a pop up form and Excel Form 16 is updated automatically with ease. For comfort in filling, the form has been divided into total of four sections. Each section can be filled independently.

It has an inbuilt PAN and TAN Structure check and each time a wrong PAN or TAN structure is written, it immediately gives a message to alert for any wrong entry that could be made. List of various codes have also been made available in a pop-up box to enable a quick referencing.

It automatically calculates the amount of allowable deductions under Chapter VIA, rebate u/s 87A and applicable income tax .

Please note that no password is needed to use this application, instead click "fill Form 16" button to start filling this form. Macros must have been enabled in excel to use this form. Download macros help here Click Here >> Users are advised to read help file first.

Excel Automatic Income Tax Form 16 Salary TDS Certificate Download | 07-02-2015|

ABCAUS EXCEL TDS FORM 16 AY 2015-16 DOWNLOAD