Hi, One of our staff, whose salary is below the income tax ceiling, is asking for Form 16, as he has to avail a loan from a bank. Since he is not coming under the income tax is there any problem to issue him Form16? He is having PAN Pls give me an advise in this regard
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Form 16
Replies (2)
Form 16 is a TDS certificate and not a Salary certificate,
However it's general practice to issue Form 16 as a Salary certi. even if Tax has not been deducted,So you can also issue Form 16 but don't mention TDS return code,leave that field Blank..
This is a practical way to satisfy need of such employees..
Thanks... Tarun
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