FORM 16

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krunal (Querist)
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27 January 2010 THERE IS A DIFFERENCE IN MY INVESTMENT SOURCES U/S 80 AND MY FORM 16.
IS IT COMPULSORY THAT I HAVE TO INVEST ONLY IN THAT WAY AS IT IS MENTIONED IN FORM 16 OR THE OTHER VALID SOURCES ARE OK FOR THIS?

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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27 January 2010 you can choose your own way to invest to save maximum tax.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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27 January 2010 Form 16 and Income Tax return is differ. Investment in return can be higher then Form 16 but not lower. Because for Form 16 you should submit proof of investment to employer. So in practical Form 16 investment can be lower than income tax return.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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27 January 2010 You can pay the different tax directly and file the return correctly

CA.Pujah

CA.Pujah (Expert)
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28 January 2010 Form16 is not your Income tax return. It is just a certificate of your tax deducted from salary. you have to self assess your income tax and take only the TDS figure from your form 16 & file return.

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