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This form is issued by the company at the end of the financial year .16 A form 16 A form is TDS certificate for the professionals. contractors and persons providing things on rent.
Employees at the end if financial year can use the form 16 to claim refund from income tax authorities in case the Tax deducted is more than the actual. . TDS is deducted by the company every month from the salary of employees.Form 16 Form 16 is a salary Certificate issued by the company to its employees.
first of all employees give their o o o o o o o preliminary declaration to the companies about various investment and expenses which are eligible for deduction from their salary for income tax purpose by filling the preliminary declaration forms containing various subheadings as follows: House rent paid Lic ULIP Long term infrastructure bonds NSC’s House loan repayment and interest Tuition fees of children. etc .Investment declaration Preliminary declaration:.
Audit :.after employees have filled the preliminary declaration forms.after the system entry companies do a audit of the system entries with the actual declaration made by the employees as a minor mistake can lead to wrong calculation of income tax of employees. companies make the system entry of the same. System entry:.Continued……. .
then the employees are asked for final declaration. In the final declaration employees are asked to submit the proof of each investment or expense they have declared in the preliminary form. Only those investments are considered for which employees generate proof. .after all of the above steps are completed.Continued… Final declaration:.
RG 23 A is a register maintained by the companies to record the transactions relating to the inputs used in the manufacturing of the products.Excise documents RG 23 A:.e. input credit is availed at the time of output. Companies have to pay excise duty @10% in the inputs. This duty paid is considered at the time of output duty for deduction i. .
RG 23 C is a register maintained by the companies to record the excise duty availed on the capital goods. 50% credit of excise duty on capital goods is taken in current financial year and remaining 50 % credit is availed in the next financial year .Continued… RG 23 C:.
companies need not to pay any excuse duty on such export. But company which want to avail such service has to sign a letter of undertaking with the excise department under Rule 19 of central excise law.Form 23 A Form 23 A is filled by the companies which are exporting some material to its own branch in some other country. .e. This form is filled to take rebate from the excise duty i.
Generally companies have to pay tax on inter state purchase @ 12%. .C Form C Form is filled by the companies in case of inter state sale and purchase. then by filling the C Form they can get heavy rebate on such tax and only tax at the rate of 1 or 2% is to be paid. But if the seller and buyer are authorized dealers having CST number.
By filling F Form the companies are exempt from paying any tax on transfer of such goods. . F Form is issued once in a month for one party.F Form F Form is issued by the company in case of inter state branch transfer.