Form 16

Better you go with a CA or Tax Consultant. So that you may save yourself from any future issues related to this.

Dear Sir,

for downloading the Form 16 you have to deduct TDS and file qualterly TDS Return. You can deduct the TDS now. But you are paying Rs. 25000/- p.m (i.e. Rs. 300000 per year). Minimum Tax Slab Rate is Rs. 200000/-. Thus taxable income is Rs. 100000/-(add another income for example interest on saving bank account). If there is any saving under section 80C then taxable income will be lower. If taxable income is Rs. 100000/- then tax is Rs. 10300/- (tax + 3% cess).

First of all asses all taxable income and deduct the TDS (as i shown above). For 2nd quarter ending 30.09.2012 TDS return can be filed up to 15.10.2012. After filing the return you can download form 16 from TIN NSDL website.

For F.Y. 2012-13 you can give salary certificate wih form 16A for f.y. 2011-12 as far as home loan is concerned.

Thanks

Ajay Singh