{"id":31346,"date":"2024-10-28T21:10:12","date_gmt":"2024-10-28T15:40:12","guid":{"rendered":"https:\/\/akriviahcm.com\/resources\/?post_type=payroll_alerts&#038;p=31346"},"modified":"2024-10-30T16:54:08","modified_gmt":"2024-10-30T11:24:08","slug":"declaration-of-tax-deducted-or-collected-at-source-under-section-1922b","status":"publish","type":"payroll_alerts","link":"https:\/\/akriviahcm.com\/resources\/global-payroll\/alerts\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b","title":{"rendered":"Declaration of Tax deducted or collected at source under Section 192(2B)"},"content":{"rendered":"<div class=\"alerts_info_box \">\n<p class=\"text-large fw-400\"><b class=\" text-bold\">Country:<\/b> India<\/p>\n<p class=\" text-large fw-400 mb-0\"><b class=\" text-bold\">Compliance category:<\/b> Tax<\/p>\n<\/div>\n<div class=\"content_block\">\n<h2 class=\"h3 theme_color\">Regulatory Information:<\/h2>\n<p class=\" text-bold\">Regulation:<\/p>\n<ul>\n<li class=\" text-large fw-400\">Finance (No.2) Act,2024<\/li>\n<li class=\" text-large fw-400\">Income-tax (Eighth Amendment) Rules, 2024<\/li>\n<\/ul>\n<p class=\" text-large fw-400\"><b class=\"text-bold\">Notification\/Circular no: <\/b>CBDT Notification No. 112\/2024 \/F. No. 370142\/19\/2024-TPL<\/p>\n<p class=\" text-large fw-400\"><b class=\"text-bold\">Notification date: <\/b>October 15, 2024<\/p>\n<p class=\" text-large fw-400\"><b class=\"text-bold\">Source:<\/b> <a class=\"simple_link\" href=\"https:\/\/incometaxindia.gov.in\/communications\/notification\/notification-112-2024.pdf\" target=\"_blank\" rel=\"nofollow noopener\">Incometax-India Notification-2024<\/a><\/p>\n<\/div>\n<div class=\"content_block\">\n<h2 class=\"h3 theme_color\">Updates in Compliance:<\/h2>\n<p class=\" text-bold\">Summary:<\/p>\n<p>The Central Board of Direct Tax (CBDT) vide above circular has introduced Form 12 BAA and amended Form 16 and 24 Q for the purpose of declaring tax deducted at source on Income other than salary.<\/p>\n<p><b class=\" text-bold\">Effective date: <\/b> October 15 ,2024<\/p>\n<p><b class=\" text-bold\">Impact: <\/b><\/p>\n<p class=\" text-bold mb-0\">1. Introduction of Form 12BAA<\/p>\n<p>In Finance Act (No.2) 2024, Section 192(2B) was introduced wherein salaried individuals can declare the taxes withheld on Income earned other than salary to their employers. As implementation guidelines, Rule 26B of The Income Tax Rules, 1962 (\u2018the Rules\u2019) has been amended in the above circular, by introducing Form 12BAA which needs to be submitted by the employee to the employer. In this form, employee needs to provide the following details:<\/p>\n<ul>\n<li>Name, Address, Permanent Account number\/Aadhar number of the employee<\/li>\n<li>Financial year<\/li>\n<li>Name, Address, TAN of the deductor<\/li>\n<li>Amount of income and tax deducted<\/li>\n<li>Name, Address, TAN of the collector<\/li>\n<li>Amount of income and tax collected<\/li>\n<li>Loss from House property head<\/li>\n<\/ul>\n<p>For reporting the above amount in Form 16 and Form 24Q, the following changes have been introduced:<\/p>\n<p class=\" text-bold mb-0\">2. Changes in Form 16<\/p>\n<p>For furnishing details related to Tax deducted or collected at source declared in Form No. 12BAA, the following text have been inserted in Form 16 Part B of Annexure I:<\/p>\n<p><em>\u201cTax deducted and collected at source as per Form No. 12BAA submitted under provisions of section 192(2B)\u201d<\/em><\/p>\n<p class=\" text-bold mb-0\">3. Changes in Form 24Q<\/p>\n<p>In Annexure II, an additional column has been added as follows:<\/p>\n<p><em>\u201cAmount reported as per section 192(2B), of other tax deducted at source or tax collected at source, other than (388)\u201d<\/em><\/p>\n<\/div>\n<div class=\"content_block\">\n<h2 class=\"h3 theme_color\">Our Analysis:<\/h2>\n<p>This notification provides complete clarity on declaring necessary details pertaining to tax deducted at source on income other than salary to the employer.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Country: India Compliance category: Tax Regulatory Information: Regulation: Finance (No.2) Act,2024 Income-tax (Eighth Amendment) Rules, 2024 Notification\/Circular no: CBDT Notification No. 112\/2024 \/F. No. 370142\/19\/2024-TPL Notification date: October 15, 2024 Source: Incometax-India Notification-2024 Updates in Compliance: Summary: The Central Board of Direct Tax (CBDT) vide above circular has introduced Form 12 BAA and amended Form [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"menu_order":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"countries":[708],"class_list":["post-31346","payroll_alerts","type-payroll_alerts","status-publish","hentry","countries-india"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New CBDT Forms for TDS on Non-Salary Income in India<\/title>\n<meta name=\"description\" content=\"CBDT has introduced Form 12 BAA and amended Form 16 and 24 Q for the declaring tax deduction at source on Income other than salary. Find out the details inside.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/akriviahcm.com\/resources\/global-payroll\/alerts\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Declaration of Tax deducted or collected at source under Section 192(2B)\" \/>\n<meta property=\"og:description\" content=\"CBDT has introduced Form 12 BAA and amended Form 16 and 24 Q for the declaring tax deduction at source on Income other than salary. Find out the details inside.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/akriviahcm.com\/resources\/global-payroll\/alerts\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b\" \/>\n<meta property=\"og:site_name\" content=\"Akrivia HCM\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AkriviaHCM\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-30T11:24:08+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@AkriviaHCM\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/global-payroll\\\/alerts\\\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b\",\"url\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/global-payroll\\\/alerts\\\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b\",\"name\":\"New CBDT Forms for TDS on Non-Salary Income in India\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/#website\"},\"datePublished\":\"2024-10-28T15:40:12+00:00\",\"dateModified\":\"2024-10-30T11:24:08+00:00\",\"description\":\"CBDT has introduced Form 12 BAA and amended Form 16 and 24 Q for the declaring tax deduction at source on Income other than salary. Find out the details inside.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/global-payroll\\\/alerts\\\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b#breadcrumb\"},\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/global-payroll\\\/alerts\\\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/global-payroll\\\/alerts\\\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/akriviahcm.com\\\/resources\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Declaration of Tax deducted or collected at source under Section 192(2B)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/#website\",\"url\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/\",\"name\":\"Akrivia HCM\",\"description\":\"Hire to Retire HCM Suite\",\"publisher\":{\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/#organization\"},\"alternateName\":\"Akriviahcm.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/#organization\",\"name\":\"Akrivia HCM\",\"url\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"\",\"contentUrl\":\"\",\"caption\":\"Akrivia HCM\"},\"image\":{\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/AkriviaHCM\",\"https:\\\/\\\/x.com\\\/AkriviaHCM\",\"https:\\\/\\\/instagram.com\\\/akriviahcm\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/akrivia-hcm\\\/\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"New CBDT Forms for TDS on Non-Salary Income in India","description":"CBDT has introduced Form 12 BAA and amended Form 16 and 24 Q for the declaring tax deduction at source on Income other than salary. Find out the details inside.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/akriviahcm.com\/resources\/global-payroll\/alerts\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b","og_locale":"en_US","og_type":"article","og_title":"Declaration of Tax deducted or collected at source under Section 192(2B)","og_description":"CBDT has introduced Form 12 BAA and amended Form 16 and 24 Q for the declaring tax deduction at source on Income other than salary. Find out the details inside.","og_url":"https:\/\/akriviahcm.com\/resources\/global-payroll\/alerts\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b","og_site_name":"Akrivia HCM","article_publisher":"https:\/\/www.facebook.com\/AkriviaHCM","article_modified_time":"2024-10-30T11:24:08+00:00","twitter_card":"summary_large_image","twitter_site":"@AkriviaHCM","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/akriviahcm.com\/resources\/global-payroll\/alerts\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b","url":"https:\/\/akriviahcm.com\/resources\/global-payroll\/alerts\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b","name":"New CBDT Forms for TDS on Non-Salary Income in India","isPartOf":{"@id":"https:\/\/akriviahcm.com\/resources\/#website"},"datePublished":"2024-10-28T15:40:12+00:00","dateModified":"2024-10-30T11:24:08+00:00","description":"CBDT has introduced Form 12 BAA and amended Form 16 and 24 Q for the declaring tax deduction at source on Income other than salary. Find out the details inside.","breadcrumb":{"@id":"https:\/\/akriviahcm.com\/resources\/global-payroll\/alerts\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b#breadcrumb"},"inLanguage":"en","potentialAction":[{"@type":"ReadAction","target":["https:\/\/akriviahcm.com\/resources\/global-payroll\/alerts\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/akriviahcm.com\/resources\/global-payroll\/alerts\/declaration-of-tax-deducted-or-collected-at-source-under-section-1922b#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/akriviahcm.com\/resources"},{"@type":"ListItem","position":2,"name":"Declaration of Tax deducted or collected at source under Section 192(2B)"}]},{"@type":"WebSite","@id":"https:\/\/akriviahcm.com\/resources\/#website","url":"https:\/\/akriviahcm.com\/resources\/","name":"Akrivia HCM","description":"Hire to Retire HCM Suite","publisher":{"@id":"https:\/\/akriviahcm.com\/resources\/#organization"},"alternateName":"Akriviahcm.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/akriviahcm.com\/resources\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en"},{"@type":"Organization","@id":"https:\/\/akriviahcm.com\/resources\/#organization","name":"Akrivia HCM","url":"https:\/\/akriviahcm.com\/resources\/","logo":{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/akriviahcm.com\/resources\/#\/schema\/logo\/image\/","url":"","contentUrl":"","caption":"Akrivia HCM"},"image":{"@id":"https:\/\/akriviahcm.com\/resources\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/AkriviaHCM","https:\/\/x.com\/AkriviaHCM","https:\/\/instagram.com\/akriviahcm\/","https:\/\/www.linkedin.com\/company\/akrivia-hcm\/"]}]}},"_links":{"self":[{"href":"https:\/\/akriviahcm.com\/resources\/wp-json\/wp\/v2\/payroll_alerts\/31346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/akriviahcm.com\/resources\/wp-json\/wp\/v2\/payroll_alerts"}],"about":[{"href":"https:\/\/akriviahcm.com\/resources\/wp-json\/wp\/v2\/types\/payroll_alerts"}],"author":[{"embeddable":true,"href":"https:\/\/akriviahcm.com\/resources\/wp-json\/wp\/v2\/users\/1"}],"version-history":[{"count":4,"href":"https:\/\/akriviahcm.com\/resources\/wp-json\/wp\/v2\/payroll_alerts\/31346\/revisions"}],"predecessor-version":[{"id":31388,"href":"https:\/\/akriviahcm.com\/resources\/wp-json\/wp\/v2\/payroll_alerts\/31346\/revisions\/31388"}],"wp:attachment":[{"href":"https:\/\/akriviahcm.com\/resources\/wp-json\/wp\/v2\/media?parent=31346"}],"wp:term":[{"taxonomy":"countries","embeddable":true,"href":"https:\/\/akriviahcm.com\/resources\/wp-json\/wp\/v2\/countries?post=31346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}