For the person earning income from Salary ,
documents Form 16, and Form 12BA are
provided by an employer which has details about his salary, perquisites and tax
deducted at source(TDS) by his employer.Looked into details of Form 16. Form 12BA give details of Perquisites given by the employer to the
employee had looked into what are perquisites, what income tax laws apply to
it, about the valuation of perquisites and the taxation with an example,
which perquisites are exempted from tax, Difference between
Perquisite, Allowance, and Fringe benefit. In this article, we shall see
how Form 12BA shows the information about
perquisites.
Form 12BA
Form 12BA is
a statement showing particulars of perquisites, other fringe benefits or
amenities, and profits in lieu of salary with value thereof.
Form No. 12BA, if the amount of
salary paid or payable to the employee is more than one lakh and fifty thousand
rupees, which shall accompany the return of income of the employee.
[Explanation : “Salary” for the purposes of this rule shall have the same
meaning as given in rule 3.]
Note:The limit has
changed to one lakh and eight thousand (1,80,000) by circular in 2011.
Download Automated Master of Form 16 Part B with Form 12 BA FY 2017-18 [ This Excel Utility can prepare at a time 50 employees Form 16 Part B with 12 BA for Assessment Year 2018-19]
