FORM 12 BA
Form 12 BA is used to furnish details of perquisites, other related benefits or amenities and profits in of value of salary.
This form 12 BA is in accordance with Rule 26 A (2) (b) of the Income Tax Rules mentioned under the Income Tax Act, 1961.
Rule 26 A (2) (b) says that a person can produce to the person required to be furnished with such details the statements of the perquisites, other related benefits or amenities and profits in of value of salary received with the help of Form No. 12 BA.
Form 12 BA consists of two pages
(1) Name and address of the employer.
(2) Tax Account Number of the employer.
(3) Tax Deducted at Source assessment range of the employer.
(4) Name, designation and Permanent Account Number of the employee.
(5) Status of employer in the interest of the company.
(6) Income other than perquisites of the employee.
(7) Financial year going on.
(8) Value of Perquisites.
- It consists of a table which has the following columns which continuous up to page 2.
(1) Serial Number
(2) Nature of perquisites
(3) Value of perquisites
(4) Amount recovered from the employee
(5) Amount of perquisites which can be taxed.
The rows in the table under column 2: Nature or perquisites include:
2. Cars/ other vehicles
3. Sweeper, watchman or other related attendants
4. Electricity, gas, water
5. Concessional or interest free loans
6. Expenses from holidays
7. Concessional or free travel details
8. Free meals provided
9. Free education provided
10. Gifts, vouchers etc. so provided
11. Credit card expenditure
12. Club expenditure
13. Movable assets used by employees
14. Transfer of assets to employees
15. Value of any other benefit, amenity, service or privilege so provided
16. Options of stocks.
17. Other benefits of amenities so provided.
18. Total value of perquisites.
19. Total value of profits in lieu of salary.
(9) Tax Details:
(a) Amount of tax deducted from remuneration of the employee under section 192 (1) of the Income Tax Act, 1961.
(b) Tax paid by the employer on behalf of the employee under section 192 (1A) of the Income Tax Act, 1961.
(c) Total amount of tax paid.
(d) Date of payment to the Government.
- It finally bears a Declaration to be filled by the Employer stating his name, father’s name, occupation status, employer name on behalf of whom he is filling the form; declaring that all the information given in the form is established on the basis of the books of account, documents and other related records or information present with him and that the information regarding the perquisites is in accordance with section 17 and the rules framed regarding them under the Income Tax Act, 1961 and finally declaring that all particulars of information stated in the form are true and correct to the best of his knowledge and belief.
- Declaration is to be signed by the person accountable for tax deduction along with the date of signing, place of signing, and full name and designation of said person.
Guidelines to be followed while filling Form 10:
- Tax Account Number and Permanent account number of said person must be mentioned mandatorily.
- Name, designation and Signature of the person who is filling the Form must be mentioned mandatorily.
- Fill all required information correctly.
- Declaration on oath must be made by the person filling Form 12 BA stating that all particulars of information stated in the form are true and correct to the best of his knowledge and belief on page 12 of the form.
Screenshots of Form 12 B are shown below:
Form 12 BA is a two page form used to furnish details of perquisites, other related benefits or amenities and profits in of value of salary to the concerned authorities. Form 12 BA is in consonance with Rule 26 A (2) (b) of the Income Tax Rules.