Form 16

This query is : Resolved

shraddha (Querist)
Follow

25 February 2010 Is it compulsory to issue Form 16 to employees who have not taxable income or whose TDS is not deducted?

As many employees are demanding Form 16 for there Loan purpose what ulternate that a company can follow?

regards,

chetan soni

chetan soni (Expert)
Follow

25 February 2010 it is not necessary to issue form 16 to all employees, but yes you need to issue this to employees whos TDS has been deducted.

Otherwise you can issue them salary certificate printed on company letter head stating his current salary & joining date.

shraddha

shraddha (Querist)
Follow

25 February 2010 Thanks Chetan

Wil plz tell me the section for the same

Sudhindra

Sudhindra (Expert)
Follow

25 February 2010 Form 16 is the proof that ur an employee of that company and also it serves as the purpose for the Income declaration in the absesnce of Salary slips or the salry statement whichis issued to all the employees . Hence it is a proof of the entire years income and also the allowances, in short it is a compendium of the salary and the allowances attached to it which is paid to the employees for a given financial year. It is mandatory as the provisions of Income tax act 1961 to issue form 16 as per section 192

Should u have any queries pls feel free to ask the same....

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
Follow

25 February 2010 Yeah. If the employee demands, then its compulsory to issue TDS certificate. If it is NIL, then you can chose any option, either issue a NIL TDS Form 16, or give a salary certificate on company's letterhead. Both theoptions are equally valid.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

25 February 2010 For AY 2010-11. if the employee not in tax net .employer can issue form16AA

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rampal Saini

Vijay Mishra

SUBHASH SAHA

Vinod Dharwarkar

R Prabhudoss

Subscribe Now

Form 16

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Senior Executive

GST CONSULTANCY

Manager- Finance and Compliance

Accountant

CA Final