Form 16 query - urgent

Hi,

If any employees taxable income is below taxable thereshold limit then is employer need to issue form 16 ?

Please provide answer with supporting rule or section of IT act. 

 

Replies (2)

For employer, specific provision is given in sub-section 2 of section 203 of the I T Act

203. (1)Every person deducting tax in accordance with the foregoing provisions of this Chapter]shall, within such period as may be prescribed from the time of credit or payment of the sum, or, as the case may be, from the time of issue of a cheque or warrant for payment of any dividend to a shareholder, furnish to the person to whose account such credit is given or to whom such payment is made or the cheque or warrant is issued, a certificate to the effect that tax has been deducted, and specifying the amount so deducted, the rate at which the tax has been deducted and such other particulars as may be prescribed.
 

Therefore, form 16 need not be issued if the total income is below the thereshold limit.

Hi,

I am purchasing new flat. As documentation process, i need to have form 16 but since i am disabled we are tax exempted. Now what is other alternatives for it. As process they need form 16 which i dont have. Please reply soon.

 

Thanks and regards,

Ujwalakash Joshi

9773034983

ujwalakash1 @ hotmail.com

 

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