Form 16 on Inter Company Transfer
This query is : Resolved
18 June 2009
Sir,
X & Y are companies in the same group. Few employees were transferred from X to Y during the year, say in Sep 08.
When the Y Co. generates the Form 16, should it include the details of income from X Co.?
Or two seperate set of Form 16 are to be generated.
Thanks & Best Regards
S Kumar
X & Y are companies in the same group. Few employees were transferred from X to Y during the year, say in Sep 08.
When the Y Co. generates the Form 16, should it include the details of income from X Co.?
Or two seperate set of Form 16 are to be generated.
Thanks & Best Regards
S Kumar
chetan soni
(Expert)
18 June 2009
You need to do both the things,
1. When y co issue form 16 it needs to take into consideration salary paid by x co.
2. Also x co needs to issue the form 16 for relevant period.
All this is as per sec 192.
1. When y co issue form 16 it needs to take into consideration salary paid by x co.
2. Also x co needs to issue the form 16 for relevant period.
All this is as per sec 192.
19 June 2009
Dear Sir,
Thank you very much for the clarification.
Best Regards
S Kumar
Thank you very much for the clarification.
Best Regards
S Kumar
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