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Form 16 scrapped

New Delhi, May 3 (PTI): Individual income tax assessees will no longer be required to furnish Form 16 — a certificate of tax deducted at source — as the I-T returns forms for 2007-08 will be without annexures.

Only the details given in Form 16 are to be written in the new forms, I-T officials said.

In the ITR series, only ITR-7, the form for charitable/religious trusts, political parties and other non-profit organisations, will carry an annexure. The forms will be introduced in May 14. Eight new forms are prescribed for the current assessment year, four of which are for individuals and Hindu undivided families.

Annexure-less forms can be filed on the electronic mode. Currently, companies with an annual turnover of less than Rs 40 lakh have to file forms on the electronic mode.

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