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Form 16 query

CA RK (CA) (281 Points)

01 July 2016

1. Do we need report Salary of Employees whose gross salary is above taxable limit (i.e. Rs.2,50,000/-) but after Savings under Section 80C and Other Sections, the taxable Salary is below Rs.2,50,000/- in Annexure II of Form 24Q for Quarter 4?

2. Do we need to issue Form 16 to these Employees?

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3 Replies

uma mahesh (Employee) (79 Points)
Replied 01 July 2016

Yes , we have to show nd issue form 16

Vikas Gupta (Tax Executive) (530 Points)
Replied 02 July 2016

1- Reporting salary on which no tax is deductible/deducted is not mandatory while filing 24Q.

2- No need to issue form 16 to such employees.

Vishal Goel (Chartered Accountant) (1688 Points)
Replied 04 July 2016

Employer can decline to issue Form 16 in case there is no deduction of tax at source.It is clear from a bare reading of section 203 of the I T Act and the relevant rule 31 of IT Rule .

Liability to give a certificate of tax deduction is given in Section 203 of the I T Act .For employer, specific provision is given in sub-section 2 of section 203 of the I T Act.