Is it mandatory to issue Form16 even if there is no taxable income
Is it mandatory to issue Form16 even if there is no taxable income
Dear Mr. Venkat Ram "Form 16" is a Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source from income chargeable under the head "Salaries". Thus if there's no taxable income there'll be no TDS and the employer is not bound to issue Form 16.
It is not compulsary unless employeer has not met with more than tax limit (Rs.1.5 Lacs)
| Originally posted by :Þräßéêr | ||
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Dear Mr. Venkat Ram "Form 16" is a Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source from income chargeable under the head "Salaries". Thus if there's no taxable income there'll be no TDS and the employer is not bound to issue Form 16. Thanks for your reply but the problem is when we filed qtrly return with dept we didn't mention the details of couple of employees, who are insisting for Form 16 now. Can we issue Form 16 even though the details have not been furnished , they don't have any taxable income or do we need to file revised qtrly return to dept |
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you can file your IT returns at https://www.payit.in
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