Dear All,
During the F.Y 08-09 I'm working with two companies and get salary from them. From the 1st Company I got 47,800,and from 2nd Comapny 95,600. Now my question is that Can I get Form 16 or form 16AA or Salary Certificate (which one) from both the employer.
Pls let me know
INDRA
Form No. 16AA is to issued to the employee, if the salary of the employee does not exceed Rs. 1,50,000, before allowing deductions u/s 16.
Since your salary does not exceed Rs.150000,you can get Form .No 16AA
| Originally posted by : SNEHASREE | ||
| " | thanks but Form 16AA which i'll suppose to get from both the employer or the last employer |
" |
YOU SHOULD GET FORM -16 AA FROM BOTH THE EMPLOYER
Thaks a lot one more query If any body getting the total salary from 2 employer is above 150000 (75000+90000)= 160000, then he can get the Form 16 or Form 16 AA from the both employer or the last employer where he is presently working
INDRA
IF THE EMPLOYEE GETS SALARY EXCEEDING RS.150000 THEN HE SHOULD GET FORM 16 FROM BOTH THE EMPLOYERS. FORM 16 AA IS ONLY FOR THE EMPLOYEES GETTING SALARY LESS THAN RS.150000
Form 16 is issued to the employees on whose salary TDS has been deducted by the employer and these forms are issued within 30 days of the close of the Financial Year.
Form 16AA is issued to the employees whose gross taxable income is more than 150,000 but taxable income is below 150,000 after providing the deductions of chepter VI
If any employee doesnt have gross taxable income more than 150,000 in such a case salary certificate will be issued by the employer to the employee.
For further details refer Section 203 of Income Tax Act, 1961
Do correct me, if im wrong.
CAclubindia
