FORM 12C

This query is : Open

Murali krishna (Querist)
Follow

29 December 2016 can anybody explain me about what is the meaning and uses of FORM 12C and whom will certify the form 12C.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

29 December 2016 Form 12C is used to declare the other income details by the employee to employer, but currently it is omitted and not required

Message likes : 1 times

Murali krishna

Murali krishna (Querist)
Follow

30 December 2016 From which period form 12c was omitted. My employer received the notice from income tax Dept. for submission of form 12c for the period F.Y. 2012-13. My employer not received Form 12c from employees during that period. kindly advise us.

Upgrade to CAclubindia Pro. Subscribe Now!

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

30 December 2016 [Form 12C has been omitted by the IT (24th Amendment) Rules, 2003 with effect from 1-10-2003 - (i) Sub-section (2B) of section 192 enables a taxpayer to furnish particulars of income under any head other than "Salaries" and of any tax deducted at source thereon. Form No. 12C, which was earlier prescribed for furnishing such particulars (Annexure-II), has since been omitted from the Income-tax Rules. However, the particulars may now be furnished in a simple statement, which is properly verified by the taxpayer in the same manner as was required to be done in Form 12C-CIRCULAR NO. 9/2008, DATED 29-9-2008

Murali krishna

Murali krishna (Querist)
Follow

30 December 2016 thank you sir