12
March
2021
CBDT Amend the Form 12BA of Income Tax Act, 1961
The Central Board of Direct Taxes (CBDT) vide its Notification No 15/2021 dated 11th March 2021 has amended Form 12BA through the Income Tax (3rd Amendment) Rules 2021 exercising its power under Section 200 and 203 read with Section 295 of the Income Tax Act, 1961.
- These rules may be called the Income-tax (3rd Amendment) Rules, 2021.
- The said rules shall come into force on the 1st Day of April 2021.
- In the Income Tax Rules, 1962, in Appedix-II, Form 12BA shall be substituted by the revised Form 12BA.
The Form 12BA is a comprehensive statement that shows the particulars of prerequisites and other fringe benefits and profits in lieu of salary issued by every employer along with Form 16 every year.
Please read here the full text of the form.
