What is the responsibility of employer who deducting TDS under 192 b,with regard to collection of declaration form from employee

What is the responsibility of employer who deducting TDS under 192 b,with regard to collection of declaration form from employee


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4 Answers
  • TDS deducted should be remitted to the Income tax department.
    and Employees are eligible to get the form 16 under TDS deducted.

  • As per rule 26 C of Income Tax Rules, w.e.f. 1/6/16, the employee has to declare his investments and proposed investments of the year to the employer in form 12BB. Usually the employer obtains this form from his employees, duly fiiled up, in the m/o April each year and from new joinees, in the month of their joining.

  • Tax declarations to be collected with supporting proofs basing on that TDS on employees salaries to be calculated and deducted. The employer should take care to collect the supporting proofs of declarations.

Income Tax

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