What is Form 12BA in Income Tax, and How Can I Download It?

Form 12BA is a statement of perquisites or fringe benefits provided to employees by their employer in addition to their salary. These perquisites can be monetary or non-monetary and are subject to taxation under the Income Tax Act. This form details the nature, value, and taxability of these benefits and is issued annually along with Form 16.

Here’s a comprehensive guide to understanding Form 12BA, its applicability, components, and the process to download it.

What are Taxable Perquisites in Form 12BA?

Employment perks can be categorized into monetary and non-monetary benefits:

Monetary Benefits

These are direct payments or reimbursements made by the employer, such as:

• Medical bill reimbursements

• Electricity bills

• Helper salaries

• Educational or vaccination expenses

• Diagnostic test reimbursements

Non-Monetary Benefits

These perks do not involve direct cash but still provide value to employees, such as:

• Employee Stock Options (ESOPs) or Restricted Stock Units (RSUs)

• Rent-free or concessional accommodation

• Employer contributions to superannuation funds

• Meal or gift vouchers

The valuation rules for these perquisites are specified under income tax regulations and reflected in Form 12BA

Applicability of Form 12BA

Form 12BA is mandatory for employees earning a salary exceeding ₹1.5 lakh per annum. For employees earning below this threshold, the perquisite details included in Part B of Form 16 are deemed sufficient.

Salary Components for Threshold Calculation

Included in Salary	Excluded from Salary
Pay and allowances	Employer's PF contributions
Bonus	Exempt allowances
Commissions	Value of perquisites
Other monetary benefits	Gratuity, severance pay, and leave encashment

Even if no perquisites are provided, the employer is still required to issue Form 12BA, mentioning "No perquisites given."

Difference Between Form 12BA and Form 12B

Aspect	Form 12B	Form 12BA
Issuing Authority	Submitted by the employee to the employer	Issued by the employer to the employee
Purpose	For reporting salary details when joining mid-year	For reporting perquisites and fringe benefits
Frequency	One-time during job changes	Annually (by June 15th)

Key Components of Form 12BA

Form 12BA has four main sections:

Part	Details Included
Part A	Employer details such as name, address, and TAN
Part B	Employee details, including name, PAN, and address
Part C	Salary, perquisites, and other allowances paid
Part D	Other relevant details, as required

At the end, a declaration signed by the employer confirms the accuracy of the details provided.

Steps to Download Form 12BA

Employers must provide Form 12BA to employees whose salary exceeds ₹1.5 lakh. Here’s how to access it:

1. Visit the Income Tax Website. Go to the official Income Tax Department website and log in with your credentials.

2. Navigate to Downloads. Select the "Income Tax Forms" option under the Downloads section.

3. Download the Setup File. Enter the necessary details and download the setup file for Form 12BA.

4. Extract the File Once downloaded, and extract the file to your system for use.

Conclusion

Form 12BA is a crucial document for salaried employees, as it provides a transparent view of the perquisites received during a financial year. Along with Form 16, it helps employees accurately report their income while filing tax returns.