Form 16

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satej (Querist)
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21 July 2010 Is there any rule such as no need to take Form 16 from employer or its not mandatory for employer to issue Form 16 if no tax has been deducted.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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21 July 2010 No. There is no such rule. Even if no TDS deducted employer can issue form 16.

Nirpendra Singh

Nirpendra Singh (Expert)
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21 July 2010 Yes now the era has been changed , you can registered yourself on NSDL site by filling form 26AS .
A registered user can download his/her statement related to TDS deduction through NSDL site & can file his/her ITR.
Therefore no need to take ''Form 16'' from employer.
Form no. 26AS contain all the information as are required to mention in Form 16.

If Satisfied than plz click on Thanks.

Sunil

Sunil (Expert)
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21 July 2010 If TDS is not deducted on account of your salary income being not taxable after your employer takes into account your Chapter VI-A deductions, it is better you take a Form 16 or at least a certificate indicating Salary paid and no TDS deduction on account of evidences submitted by you. If you receive income below taxable limit please take a certificate as it confirms salary as the source of income.

In case you are submitting proof of investments to your employer in the prescribed form required for reporting other income, it is prudent to also report your other taxable income so that your tax liable to TDS can be properly worked out.

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