Form16 - 80c

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Krishna

Krishna (Querist)

29 March 2013 Is it Mandatory to add the Employee's 80c Deductions (PPF, LIC....) on form 16?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

29 March 2013 Need not to be mention. In case if you considering the same for the purpose of computation of tax liability and deduction TDS then better to mention that otherwise as per the form 16 shows employer has to deduct more tax then deducted as per form 16 issued so it indicate employer dedcuted short TDS than required then employer will punish for short deduction or non-deduction of TDS. In that case if the employer explained Employee has another savings then immediately question will ask you din't consider the same and not disclosed in form 16 so Ao doesn't belive you and your answer.

OM SAI SRI SAI JAI JAI SAI

Krishna

Krishna (Querist)

31 March 2013 Thanks for your reply, I have one more question for you.

What is the purpose of the column "Deductions Under Chapter VI-A 80c, 80CCD,...."

Also if have already paid my LIC, PPF.... I can addit to Form 16. Right?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

31 March 2013 Yes, you have to admit it at form 16 eventhough you admit it in form 16 you have to fill it in your return because form 16 is different and return of income is different. In form 16 all incomes related to employee need not be mention i.e compulsory requiremt of considering of the details of salary paid by the such employer. But while prepearing of ITR all the details of such assessee should be consider like any other incomes also.

OM SAI SRI SAI JAI JAI SAI

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