Form 12BB — Rule 26C
CBDT amended Income Tax Rules, 2016 vide Notification No.3o/2016, F.No.142/29/2o15- TPL.
These Rules shall come into force from 1st day of June, 2016
CBDT introduced Form 12BB for furnishing of evidence of claims by employee for deduction of tax under 5.192 by inserting Rule 26C. Accordingly, assessee (employees) shall furnish the particulars and evidences of tax deductions, required for the purpose of estimating his taxable income in Form 12BB, to the person responsible for making payment under section 192.
Employees shall be required to submit the evidences/particulars for the following claims:
1. House Rent Allowance (HRA), where aggregate rent paid during the year exceeds Rs.i lakh.
2. Leave travel concessions (LTA)
3. Deduction of Interest u/s 24(b) under head — “Income from House Property”
4. Deduction under Chapter VI-A.
Due Dates for filing of Quarterly TDS Returns – Rule 31A
The due dates for filing of quarterly TDS returns are also revised as follows:
CBDT amended Income Tax Rules, 2016 vide Notification No.3o/2016, F.No.142/29/2o15- TPL.
These Rules shall come into force from 1st day of June, 2016
CBDT introduced Form 12BB for furnishing of evidence of claims by employee for deduction of tax under 5.192 by inserting Rule 26C. Accordingly, assessee (employees) shall furnish the particulars and evidences of tax deductions, required for the purpose of estimating his taxable income in Form 12BB, to the person responsible for making payment under section 192.
Employees shall be required to submit the evidences/particulars for the following claims:
1. House Rent Allowance (HRA), where aggregate rent paid during the year exceeds Rs.i lakh.
2. Leave travel concessions (LTA)
3. Deduction of Interest u/s 24(b) under head — “Income from House Property”
4. Deduction under Chapter VI-A.
Due Dates for filing of Quarterly TDS Returns – Rule 31A
The due dates for filing of quarterly TDS returns are also revised as follows:
| S. No. |
Ending date of Qtr. of FY |
Due Date |
| 1 | 30th June | 31st July of FY |
| 2 | 30th Sept. | 31st Oct. of FY |
| 3 | 31st Dec. | 31st Jan. of FY |
| 4 | 31st March | 31st May of following FY |
Additional Details in TDS return – 24Q Employers are now required to mention the following additional details in 24Q:
1. In case of HRA — Name & PAN of landlord if aggregate amount of rent paid by employee exceeds Rs.i lakh.
2. In case of deduction of interest under
the head “Income from House Property”
— Name & PAN of lender of the loan. There shall be two new columns namely: 357 and 358 in Annexure —II (after entry 356) for the above details.
Note: Due date for furnishing of TDS certificate is 15 days from the due date of filing of return. As the due date for filing of TDS returns has been extended by 15 days for all quarters, due date for issuing TDS certificate has also been extended by 15 days for all quarters.