19 May 2012
Is it necessary to issue FORM NO 16 To a salaried person whose salary is Below income tax limit? If no then which document he/she has to produce while applying for a vehicle loan or any other loan.
21 May 2012
Dear All Form 16 is issued for TDS amount deducted from the Salary and remitted to I T Dept . If no TDS is deducted the institution need not issue the form 16.
For obtaining the vehicle Loan one has to produce the Salary Certificate or Pay Slip for 3 months preceding to the loan applied.
If the salary is paid through Bank account the individual can obtain the statement from the Bank and submitted the same to the Processing authorities.
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