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Changes in the format and method of preparing Form 16


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Learn the latest amendments in Form 16 format and how to generate it for the assessment year 2012-13

Learn the latest amendments in Form 16 format and how to generate it for the assessment year 2012-13

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  • 1. Welcome toGreytip Online Training WebinarDate: 22 May, 2013Changes in theformat and methodof preparing Form16
  • 2. • Recent Amendment from Income Tax Dept.• The Process• Download Part A from TRACES portal• Generate Form 16 Using Greytip Online• Q & AAgenda
  • 3. Manually prepared Form 16 or Form 16A (for deduction under any other provision of Chapter XVII-B ofthe Act) shall no more be valid for the income deductions made on or after 1st April, 2012.• Form 16 now consists of two parts - Part A (tax deduction and deposit) andPart B (income).• Part A shall be mandatorily generated through TRACES portal, Income TaxDepartments web-based application for TDS administration• Part B can be generated by the employer.• Both these documents / certificates would then either be merged or issuedindividually as Form 16 to the employees.New Rules
  • 4. Phase I – Download Part A from TRACES portal
  • 5. Login to TRACESThe Process
  • 6. The processRequest to download Part AYour request todownloadPart A will be queued forprocessing.You can check the statusof your request in theportal using the Requestnumber.The Process
  • 7. The processDownload ‘Part A’ of Form 16The Process
  • 8. The process‘TRACES PDF Generation Utility’Download the PDFconverter and install inyour systemYou will need this toconvert Part A of Form 16text files to the PDFThe Process
  • 9. Download the complete guide to downloadand install ‘TRACES PDF Generation Utility’in your system
  • 10. The processLaunch ‘TRACES PDF Generation Utility’Double ClickRun.Bat file, whichwill launch UserInterface of theUtilityThe Process
  • 11. Save the PDF version of Part A in a ZIP fileThe ProcessEach file name willconsist ofEmployee PAN no.and Financial yearSave the ZIP file toupload to GreytipOnline
  • 12. Phase II – Greytip Online Value Addition
  • 13. How to Upload Part A onto Greytip OnlineThe ProcessGo to tools, IT UtlsForm 16 page ofthe Admin moduleSelect AssessmentyearUpload Part A ZIPfile or uploadindividual Part APDFs as saved inyour system
  • 14. Check the upload status of the Part A filesThe ProcessUpload statusCheck if all files areuploaded successfully, oruploaded partially.Click on theError Log tocheck the error
  • 15. Error logThe ProcessIn case any PAN nos. of the Part A files are not found in your employee database orrepetition of same PAN no., ‘Greytip Online Error Log’ will show you what you need torectify.You can, then, update your employee database and upload the Part A files once again.
  • 16. Merging/Unmerging of the forms and Digital SignatureThe ProcessCheck the box to merge the Part A andPart B.Uncheck if you want to send the formsunmerged.Don’t forget to save your settingsUpload digital signature (PFX file)
  • 17. Generating Form 16The ProcessSelect EmployeesGo to Form 16 tabGenerate, Download orEmail the forms to theemployeesRelease to publishforms in Employeeportal
  • 18. Thank