Can Form 16 be issued to a person who draws salary of Rs1,50,000 p.a which is below the taxable incoome.So TDs is nil.In such a case can a employer issue Form 16 if a employee requires it.
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Form 16
Replies (6)
yes
Yaa, no problem
yes
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Yes you can
Originally posted by :MNarayanan |
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| " | Can Form 16 be issued to a person who draws salary of Rs1,50,000 p.a which is below the taxable incoome.So TDs is nil.In such a case can a employer issue Form 16 if a employee requires it. | " |
You can issue Form 16AA subject to following conditions : -
For an individual, resident in India, where.
(a) his total income includes income chargeable to income-tax under the head 'Salaries';
(b) the income from salaries before allowing deductions under section 16 of the Income-tax Act, 1961
does not exceed rupees one lakh fifty thousand;
(c) his total income does not include income chargeable to income-tax under the head 'Profits and gains
of business or profession' or 'Capital gains' or agricultural income; and
(d) he is not in receipt of any other income from which tax has been deducted at source by any person
other than the employer.
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