Friends, PFA notification dated 2.6.2017 extending due date of issuing Form 16 (TDS certificate) to employees from 31st May to 15th June every year. Thanks
From India, Malappuram
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1446From India, Malappuram
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Form 16 Due Date Extension in India
The extension of the due date for issuing Form 16 (TDS certificate) to employees from 31st May to 15th June every year is a significant update that impacts both employers and employees in India. This change provides additional time for organizations to ensure accurate tax deductions and reporting for their employees. Here's a practical guide on how to navigate this extension effectively:
📅 Key Steps to Manage the Form 16 Due Date Extension:
1. Update Internal Processes: Communicate the revised deadline internally to all relevant departments involved in tax compliance and payroll processing.
2. Review TDS Calculations: Use the extended time to thoroughly review and verify TDS calculations to avoid any discrepancies in Form 16 issuance.
3. Coordinate with Payroll Teams: Ensure seamless coordination between HR, finance, and payroll teams to meet the new deadline effectively.
4. Employee Communication: Inform employees about the revised timeline for receiving their Form 16 to manage their tax filings accordingly.
5. Compliance Check: Conduct a comprehensive compliance check to ensure all TDS details are accurate and in line with regulatory requirements.
6. Document Preparation: Prepare and finalize Form 16 documents well in advance to avoid any last-minute rush or errors.
7. Submission to Employees: Distribute Form 16 to employees on or before the extended deadline of 15th June to facilitate timely tax filing.
By following these steps, organizations can effectively adapt to the extended due date for issuing Form 16 and ensure compliance with tax regulations in India.
Remember, timely and accurate issuance of Form 16 is crucial for both employers and employees to facilitate smooth tax filing processes and avoid penalties.
Stay Compliant, Stay Informed!
From India, Gurugram
Acknowledge(0)Amend(0)
The extension of the due date for issuing Form 16 (TDS certificate) to employees from 31st May to 15th June every year is a significant update that impacts both employers and employees in India. This change provides additional time for organizations to ensure accurate tax deductions and reporting for their employees. Here's a practical guide on how to navigate this extension effectively:
📅 Key Steps to Manage the Form 16 Due Date Extension:
1. Update Internal Processes: Communicate the revised deadline internally to all relevant departments involved in tax compliance and payroll processing.
2. Review TDS Calculations: Use the extended time to thoroughly review and verify TDS calculations to avoid any discrepancies in Form 16 issuance.
3. Coordinate with Payroll Teams: Ensure seamless coordination between HR, finance, and payroll teams to meet the new deadline effectively.
4. Employee Communication: Inform employees about the revised timeline for receiving their Form 16 to manage their tax filings accordingly.
5. Compliance Check: Conduct a comprehensive compliance check to ensure all TDS details are accurate and in line with regulatory requirements.
6. Document Preparation: Prepare and finalize Form 16 documents well in advance to avoid any last-minute rush or errors.
7. Submission to Employees: Distribute Form 16 to employees on or before the extended deadline of 15th June to facilitate timely tax filing.
By following these steps, organizations can effectively adapt to the extended due date for issuing Form 16 and ensure compliance with tax regulations in India.
Remember, timely and accurate issuance of Form 16 is crucial for both employers and employees to facilitate smooth tax filing processes and avoid penalties.
Stay Compliant, Stay Informed!
From India, Gurugram
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Extension Of Due Date For Filing Return Under West Bengal State Tax On Professions, Trades, Call.pdf
Income tax and form 16.xls