MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 11th March, 2021
G.S.R. 170(E). —In exercise of powers conferred by sections 200 and 203 read with section 295 of the
Income- tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules
further to amend the Income-tax Rules, 1962, namely:—
- Short title and commencement – (1) These rules may be called the Income-tax (3rd Amendment) Rules,
- (2) They shall come into force on the 1st day of April, 2021.
- In the Income-tax Rules, 1962, in Appendix II,-
(i) For Form No. 12BA, the following shall be substituted, namely:–
“FORM NO. 12BA
[See rule 26A(2)(b)]
Statement showing particulars of perquisites, other fringe benefits or amenities and profits in lieu
of salary with value thereof
- Name and address of employer
:
- TAN
:
- TDS Assessment Range of the employer
:
- Name, designation and Permanent Account Number or Aadhaar Number
of employee
:
- Is the employee a director or a person with substantial interest in
the company
:
(where the employer is a company)
- Income under the head “Salaries” of the employee
(other than from perquisites)
:
- Financial year
:
- Valuation of Perquisites
:
| S. No. | Nature of perquisites (see rule 3) | Value of perquisite as per rules (Rs.) | Amount, if any, recovered from the employee (Rs.) | Amount of perquisite chargeable to tax Col. (3) - Col. (4) (Rs.) |
|---|
| (1) | (2) | (3) | (4) | (5) |
|---|
| 1. | Accommodation | | | |
| 2. | Cars/Other automotive | | | |
| 3. | Sweeper, gardener, watchman or personal attendant | | | |
| 4. | Gas, electricity, water | | | |
| 5. | Interest free or concessional loans | | | |
| 6. | Holiday expenses | | | |
| 7. | Free or concessional travel | | | |
| 8. | Free meals | | | |
| 9. | Free education | | | |
| 10. | Gifts, vouchers, etc. | | | |
| 11. | Credit card expenses | | | |
| 12. | Club expenses | | | |
| 13. | Use of movable assets by employees | | | |
| 14. | Transfer of assets to employees | | | |
| 15. | Value of any other benefit/amenity/service/privilege | | | |
| 16. | Stock options allotted or transferred by employer being an eligible start-up referred to in section 80-IAC. | | | |
| 17. | Stock options (non-qualified options) other than ESOP in col 16 above. | | | |
| 18. | Contribution by employer to fund and scheme taxable under section 17(2)(vii). | | | |
| 19. | Annual accretion by way of interest, dividend etc. to the balance at the credit of fund and scheme referred to in section 17(2)(vii) and taxable under section 17(2)(viia). | | | |
| 20. | Other benefits or amenities | | | |
| 21. | Total value of perquisites | | | |
| 22. | Total value of profits in lieu of salary as per section 17(3) | | | |
(9) Details of tax,—
- (a) Tax deducted from salary of the employee under section 192(1)
- (b) Tax paid by employer on behalf of the employee under section 192(1A)
- (c) Total tax paid
- (d) Date of payment into Government treasury
DECLARATION BY EMPLOYER
I, , s/o _______________________ working as__(designation) do hereby declare on behalf of
____________ (name of the employer) that the information given above is based on the books of account, documents
and other relevant records or information available with us and the details of value of each such perquisite are in
accordance with section 17 and rules framed thereunder and that such information is true and correct.
Place
Full Name
Date
Designation
Signature of the person responsible for deduction of tax.”;
(ii) In Form No. 16, for Part B (Annexure), the following shall be substituted, namely :-
“PART B (Annexure)
Details of Salary Paid and any other income and tax deducted
A
Whether opting for taxation u/s 115BAC?
[YES/NO]
- Gross Salary
- (a) Salary as per provisions contained in section 17(1)
Rs. ...
- (b) Value of perquisites under section 17(2) (as per Form No. 12BA, wherever applicable)
Rs. ...
- (c) Profits in lieu of salary under section 17(3) (as per Form No. 12BA, wherever applicable)
Rs. ...
- (d) Total
Rs. ...
- (e) Reported total amount of salary received from other employer(s)
Rs. ...
- Less: Allowances to the extent exempt under section 10
- (a) Travel concession or assistance under section 10(5)
Rs. ...
- (b) Death-cum-retirement gratuity under section 10(10)
Rs. ...
- (c) Commuted value of pension under section 10(10A)
Rs. ...
- (d) Cash equivalent of leave salary encashment under section 10(10AA)
Rs. ...
- (e) House rent allowance under section 10(13A)
Rs. ...
- (f) Amount of any other exemption under section 10
clause …
Rs. ...
clause …
Rs. ...
clause …
Rs. ...
clause …
Rs. ...
clause …
Rs. ...
…
Rs. ...
- (g) Total amount of any other exemption under section 10
Rs. ...
- (h) Total amount of exemption claimed under section 10 [2(a)+2(b)+2(c)+2(d)+2(e)+2(g)]
Rs. ...
- Total amount of salary received from current employer [1(d)-2(h)]
Rs. ...
- Less: Deductions under section 16
- (a) Standard deduction under section 16(ia)
Rs. ...
- (b) Entertainment allowance under section 16(ii)
Rs. ...
- (c) Tax on employment under section 16(iii)
Rs. ...
- Total amount of deductions under section 16 [4(a)+4(b)+4(c)]
Rs. ...
- Income chargeable under the head "Salaries" [(3+1(e)-5]
Rs. ...
- Add: Any other income reported by the employee under as per section 192 (2B)
- (a) Income (or admissible loss) from house property reported by employee offered for TDS
Rs. ...
- (b) Income under the head Other Sources offered for TDS
Rs. ...
- Total amount of other income reported by the employee [7(a)+7(b)]
Rs. ...
- Gross total income (6+8)
Rs. ...
- Deductions under Chapter VI-A
Gross Amount
Deductible Amount
- (a) Deduction in respect of life insurance premia, contributions to provident fund etc. under section 80C
Rs. ...
Rs. ...
- (b) Deduction in respect of contribution to certain pension funds under section 80CCC
Rs. ...
Rs. ...
- (c) Deduction in respect of contribution by taxpayer to pension scheme under section 80CCD (1)
Rs. ...
Rs. ...
- (d) Total deduction under section 80C, 80CCC and 80CCD(1)
Rs. ...
Rs. ...
- (e) Deductions in respect of amount paid/deposited to notified pension scheme under section 80CCD (1B)
Rs. ...
Rs. ...
- (f) Deduction in respect of contribution by Employer to pension scheme under section 80CCCD (2)
Rs. ...
Rs. ...
- (g) Deduction in respect of health insurance premia under section 80D
Rs. ...
Rs. ...
- (h) Deduction in respect of interest on loan taken for higher education under section 80E
Rs. ...
Rs. ...
Gross Amount
Qualifying Amount
Deductible Amount
- (i) Total Deduction in respect of donations to certain funds, charitable institutions, etc. under section 80G
Rs. ...
Rs. ...
Rs. ...
- (j) Deduction in respect of interest on deposits in savings account under section 80TTA
Rs. ...
Rs. ...
Rs. ...
- (k) Amount deductible under any other provision(s) of Chapter VI‐A
section …
Rs. ...
Rs. ...
Rs. ...
section …
Rs. ...
Rs. ...
Rs. ...
section …
Rs. ...
Rs. ...
Rs. ...
section …
Rs. ...
Rs. ...
Rs. ...
section …
Rs. ...
Rs. ...
Rs. ...
section …
Rs. ...
Rs. ...
Rs. ...
…
Rs. ...
Rs. ...
Rs. ...
- (l) Total of amount deductible under any other provision(s) of Chapter VI‐A
Rs. ...
Rs. ...
Rs. ...
- Aggregate of deductible amount under Chapter VI-A [10(a)+10(b)+10(c)+10(d)+10(e)+10(f)+10(g)+10(h)+10(i) 10(j)+10(l)]
Rs. ...
- Total taxable income (9-11)
Rs. ...
- Tax on total income
Rs. ...
- Rebate under section 87A, if applicable
Rs. ...
- Surcharge, wherever applicable
Rs. ...
- Health and education cess @ 4%
Rs. ...
- Tax payable (13+15+16-14)
Rs. ...
- Less: Relief under section 89 (attach details)
Rs. ...
- Net tax payable (17-18)
Rs. ...
Verification
I, …………………………….., son/daughter of ……………………………………….working in the capacity of
.………………………......... (designation) do hereby certify that the information given above is true, complete and
correct and is based on the books of account, documents, TDS statements, and other available records.
Place…………………………......…
(Signature of person responsible for deduction of tax)
Date………………………….......…
Full Name : ……………………………
Notes:
- Government deductors to fill information in item I of Part A if tax is paid without production of an
income-tax challan and in item II of Part A if tax is paid accompanied by an income-tax challan.
- Non-Government deductors to fill information in item II of Part A.
- The deductor shall furnish the address of the Commissioner of Income-tax (TDS) having
jurisdiction as regards TDS statements of the assessee.
- If an assessee is employed under one employer only during the year, certificate in Form No. 16
issued for the quarter ending on 31st March 2021 of the financial year shall contain the details of tax
deducted and deposited for all the quarters of the financial year.
- (i) If an assessee is employed under more than one employer during the year, each of the
employers shall issue Part A of the certificate in Form No. 16 pertaining to the period for which such
assessee was employed with each of the employers.
(ii) Part B (Annexure) of the certificate in Form No.16 may be issued by each of the employers or the
last employer at the option of the assessee.
- In Part A, in items I and II, in the column for tax deposited in respect of deductee, furnish total
amount of tax, surcharge and health and education cess.
- Deductor shall duly fill details, where available, in item numbers 2(f) and 10(k) before furnishing
of Part B (Annexure) to the employee.”;
(iii) in Form No. 24Q, for “Annexure II”, the following Annexure shall be substituted, namely:–
“Annexure II
Details of salary paid or credited during the financial year ………………………….and net tax payable
Serial
number.
Permanent
Account
Number
of the
employee.
Name of
the
employee.
Whether
opting
for
taxation
u/s
115BAC
[Yes/No]
Deductee
type
(Senior
Citizen,
Super
Senior
Citizen,
Others).
Date from and
date up to
employed with
current
employer in
the current
financial year
(dd/mm/yyyy).
(a) Gross
Salary as
per
provisions
contained
in section
17(1).
(b) Value of
perquisites
under section
17(2)
(as per
FormNo.12BA,
wherever
applicable).
(c) Profits in
lieu of salary
under section
17(3)
(as per Form
No.12BA,
wherever
applicable).
Total amount
of gross
salary
received
from current
employer
(see Note 1
for definition
of Salary).
(330) (331)
(332A)
(332B)
(333) (334)
(335) (336)
(337) (338)
Reported
total
amount of
salary
received
from other
employer(s)
(see Note 1
for
definition
of Salary).
Travel
concession
or
assistance
under
section
10(5).
Death-
cum-
retirement
gratuity
under
section
10(10).
Commuted
value of
pension
under
section
10(10A).
Cash
equivalent
of leave
salary
encashment
under
section
10(10AA).
House rent
allowance
under
section
10(13A).
PAN of
landlord, if
exemption
is claimed
under
section
10(13A)
(see Note
3).
Amount
of any
other
exemption
under
section 10.
Total amount of
exemption claimed
under section 10
(340+341+342+343
+344+346).
Total
deduction
under
section
16(ia).
(339) (340)
(341) (342)
(343) (344)
(345) (346)
(347) (348)
Total
deduction
under
section
16(ii).
Total
deduction
under
section
16(iii).
Income
chargeable
under the
head
"Salaries"
[338+339-
(347+348+
349+350)].
Income
(or
admissible
loss) from
house
property
reported
by
employee
offered
for TDS
as per
section
192 (2B).
PAN of
lender, if
interest on
housing
loan is
claimed
under
section
24(b) (see
Note 4).
Income
under the
head
other
sources
offered
for TDS
as per
section
192
(2B).
Gross total
income
(351+352+
354).
Deduction in respect
of life insurance
premia, contributions
to provident fund etc.
under section 80C.
Deduction in
respect of
contribution to
certain
pension funds
under section
80CCC.
Deduction
in respect
of
contribution
by taxpayer
to notified
pension
scheme
under
section
80CCD(1)
(349) (350)
(351) (352)
(353) (354)
(355) (356)
(357) (358)
Deduction in
respect of
amount paid
or deposited
under
notified
pension
scheme
under section
80CCD(1).
Deduction in
respect of
contribution by
employer to
notified
pension
scheme under
section 80CCD
(2).
Deducti
on in
respect
of health
insuranc
e premia
under
section
80D.
Deduction in
respect of
interest on
loan taken
for higher
education
under
section 80E.
Total
deduction in
respect of
donations to
certain
funds,
charitable
institutions,
etc. under
section 80G.
Deduction
in respect of
interest on
deposits in
savings
account
under
section
80TTA.
Amount
deductible
under any
other
provision
(s) of
Chapter
VI‐A.
Total amount deductible
under Chapter VI‐A
[356+357+358 (limited
to Rs. 1,50,000) +359
+360+361+362+363+36
4+365].
Total
taxable
income
(355-366)
Income-
tax on
total
income.
(359) (360)
(361) (362)
(363) (364)
(365) (366)
(367) (368)
Rebate
under
section
87A, if
applicable.
Surcharge,
wherever
applicable.
Health
and
education
cess.
Income‐tax
relief under
section 89,
when
salary, etc.
is paid in
arrear or
advance.
Net tax liability
[368+370+371-
(369+372)].
Total amount of tax
deducted at source
by the current
employer for the
whole year
[aggregate of the
amount in columns
325 of Annexure I
for all the quarters
in respect of each
employee].
Reported amount
of tax deducted at
source by other
employer(s) or
deductor(s)
(income in respect
of which included
in computing total
taxable income in
column 339).
Total
amount of
tax
deducted at
source for
the whole
year
(374+375).
Shortfall in
tax deduction
(+) or excess
tax deduction
(‐) (373-
376).
(369) (370)
(371) (372)
(373) (374)
(375) (376)
(377)
Notes:
- Salary includes wages, annuity, pension, gratuity (other than exempted under section 10(10), fees, commission,
bonus, repayment of amount deposited under the Additional Emoluments (Compulsory Deposit) Act, 1974 (37 of
1974), perquisites, profits in lieu of or in addition to any salary or wages including payments made at or in connection
with termination of employment, advance of salary, any payment received in respect of any period of leave not availed
(other than exempted under section 10 (10AA), any annual accretion to the balance of the account in a recognised
provident fund chargeable to tax in accordance with rule 6 of Part A of the Fourth Schedule of the Income-tax Act,
1961, any sums deemed to be income received by the employee in accordance with sub‐rule (4) of rule 11 of Part A of
the Fourth Schedule of the Income-tax Act, 1961, any contribution made by the Central Government to the account of
the employee under a pension scheme referred to in section 80CCD or any other sums chargeable to income-tax under
the head 'Salaries'.
- Where an employer deducts from the emoluments paid to an employee or pays on his behalf any contributions of
that employee to any approved superannuation fund, all such deductions or payments should be included in the
statement.
- Permanent Account Number of landlord shall be mandatorily furnished where the aggregate rent paid during the
previous year exceeds one lakh rupees.
- Permanent Account Number of lender shall be mandatorily furnished where the housing loan, on which interest is
paid, is taken from a person other than a Financial Institution or the Employer.”.
[Notification No. 15/2021/F.No. 370142/04/2019-TPL]
ANKIT JAIN, Under Secy. (Tax Policy and Legislation)
Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section
(ii) vide notification number S.O. 969(E) dated the 26th of March, 1962 and were last amended vide notification
number G.S.R No. 162(E) dated the 09th of March, 2021.
