Filing of Form 16 by tax payers not required for claiming refunds
New Delhi, May 28 (UNI) The Finance Ministry today clarified that a taxpayer is not required to submit Form 16--a certificate of tax deducted at source-- along with Income tax return to obtain refunds.
The Ministry was reacting to reports appearing in the print and electronic media in this regard.
''It is hereby clarified that the Government has amended Rule 12 of the Income Tax Rules so as to notify the new income tax return forms for assessment Year 2007-08 with effect from May 14, 2007.
These new return forms (other then new Form ITR-7 for charitable/ religious trusts and institutions) are annexure-less,'' an official statement release said here.
The statement said a taxpayer is not required to file any document relating to computation of income or challans or TDS certificates or TCS certificates, irrespective of whether a refund is claimed or not.
''In view of the above position, the contents of the news item regarding the need to file Form 16 for claiming refund is baseless.
The taxpayers are advised to strictly follow the instruction annexed with the new return forms and Rule 12 of the Income Tax Rules,'' the statement said.
UNI