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16 A form

16 A form is TDS certificate for the professionals,contractors and persons providing things on rent.This form is issued by the company at the end of the

financial year

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Form 16

Form 16 is a salary Certificate issued by the companyto its employees. TDS is deducted by the companyevery month from the salary of employees.

Employees at the end if financial year can use theform 16 to claim refund from income tax authoritiesin case the Tax deducted is more than the actual.

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Investment declaration

Preliminary declaration:- first of all employees give theirpreliminary declaration to the companies about variousinvestment and expenses which are eligible for deductionfrom their salary for income tax purpose by filling thepreliminary declaration forms containing various subheadings

as follows:o House rent paido Lico ULIPo Long term infrastructure bondso NSCso House loan repayment and interesto Tuition fees of children, etc

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Continued.

System entry:- after employees have filled thepreliminary declaration forms, companies make thesystem entry of the same.

Audit :- after the system entry companies do a auditof the system entries with the actual declarationmade by the employees as a minor mistake can leadto wrong calculation of income tax of employees.

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Continued

Final declaration:- after all of the above steps arecompleted, then the employees are asked for finaldeclaration. In the final declaration employees areasked to submit the proof of each investment orexpense they have declared in the preliminary form.Only those investments are considered for whichemployees generate proof.

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Excise documents

RG 23 A:- RG 23 A is a register maintained by thecompanies to record the transactions relating to theinputs used in the manufacturing of the products.Companies have to pay excise duty @10% in theinputs. This duty paid is considered at the time ofoutput duty for deduction i.e. input credit is availedat the time of output.

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Continued

RG 23 C:- RG 23 C is a register maintained by thecompanies to record the excise duty availed on thecapital goods. 50% credit of excise duty on capitalgoods is taken in current financial year andremaining 50 % credit is availed in the next financial

year

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Form 23 A

Form 23 A is filled by the companies which areexporting some material to its own branch in someother country. This form is filled to take rebate fromthe excise duty i.e. companies need not to pay anyexcuse duty on such export. But company which

want to avail such service has to sign a letter ofundertaking with the excise department under Rule

19 of central excise law.

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C Form

C Form is filled by the companies in case of interstate sale and purchase. Generally companies have topay tax on inter state purchase @ 12%. But if theseller and buyer are authorized dealers having CSTnumber, then by filling the C Form they can getheavy rebate on such tax and only tax at the rate of 1or 2% is to be paid.

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F Form

F Form is issued by the company in case of interstate branch transfer. By filling F Form thecompanies are exempt from paying any tax ontransfer of such goods. F Form is issued once in amonth for one party.