Form 12BA - Perquisites Statement Under Income Tax

There are other perquisites that qualify to be stated in the perquisites but as an employee this form has to be submitted along with the Form 16 submission.

What is Form 12BA?

Form 12BA is a statement received by the employee disclosing the details of perquisites, fringe benefits, and other non-salary compensation provided by the employers during a financial year.

This form is required under the Income Tax Act and supplements Form 16, which primarily focuses on salary and tax deductions. The form lists specific benefits like company-provided housing, cars, medical reimbursements, and other allowances that may be taxable or exempt, depending on the nature of the benefit.

It helps employees in accurately reporting their income for tax purposes. An employee or staff receives ‘perquisites’ from his work, Form 12BA is provided by the employing party to the employee.

Form 12BA Applicability

People who are earning income from Salary , the documents Form 16, and Form 12BA are provided by their employer which includes the details about their salary, tax deducted at source (TDS) as well as perquisites by their employer.

These are meant to be used while computing Tax liability as well as filing Income Tax return pertaining to the Income Taxation law in India . Taxation on income has the details of Form 16.

However, Form 12BA adds to the details of Perquisites provided by the employer to employee. However, it is important to understand that Form 12BA is applicable for any employee regardless of wheather they receive any perquisites or not. The ones who do not have any perquisites from the company, they too should receive the same, stated by their employer that they have not received any perquisites from the employer in the form.

Form 12BA Format and How to fill the Form?

The first section of Form 12BA:

The first part of the form gives details about the employer as well as the employee as shown in the image below. The Employer Details require you to fill in the Name and Address of the Employer, as well as their TAN Number.

Do note that even an individual's PAN has an Assessing Officer Code in Form 16. However, in Form 12BA, the Assessing Officer Code mentioned is for the employer, linked to their TAN number, and indicates the area or jurisdiction of the employer.

The Employee details include name and designation of employee, PAN Number of employee and finally the financial year. which in Form 16 is mentioned as Assessment Year, although their value is the same.

Value of Perquisites Section:

As you can see the image below, all the details of the perquisites and their amount can be calculated here. There are however, three columns for each that include as per rules, amount recovered from the employee and amount of perquisites that are taxable.

Details of Tax Section:

This entry is based on Form 16, and all the details should be already available in the Form 16 for the employee. The picture given below adds more clarity to this section.

Declaration from the Employer Section: This has to be filled up by the employer and all the details here are simply for the declaration for the person held responsible for the information provided in the form, as shown below in the following image of the form.

Form 12BA and Form 12B

People often confuse Form 12BA with Form 12B, since both the forms fall under the same Rule, Rule 26, they are often confused. Form 12BA, as mentioned earlier, is a detailed statement of perquisites that the employer provides to the employee. On the other hand, Form 12B is a statement submitted by an employee who joins a new employer mid-financial year, detailing income earned and tax deducted at source (TDS) from the previous employment.

Where can I find Form 12BA?

This form is available online as a pdf download which must be printed and filled in. However, some websites provide the excess option of downloading an excel sheet which can be filled on the system itself through MS Excel and then finally printed out. This is a faster option for companies with a higher number of employees to cover.