The Central Board of Direct Taxes vide its notification dated 12th March 2021 has published the Income-tax (3rd Amendment) Rules, 2021 which shall come into force from 1st April 2021.
The Board has amended Form 12BA which is a detailed statement showing particulars of perquisites, other fringe benefits or amenities and profits in lieu of salary with value thereof.
The Government detectors shall fill information in item I of Part A in the form 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 and the Non-Government deductors to fill information in item II of Part A.
Further, 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.
