Dear all,
What is the condition for issue the form No 16AA? if the employee has not furnished the declaration then we issue the form no 16AA to the employees or not? whether it is compulsory to issue form no 16AA? what is the penal provision under the act for non issue of form no 16AA>
Please clarify.
Thanks
Parmod
In case employer fails to issue TDS certificate, he shall be liable to a penaltyv of Rs,100/- per daycfor each default, u/s 272A (2)(g), subject to maximum of TDS amount. The employee has no other remedy except to intimate the fact to the assessing officer, who may take the appropriate action.
Regards
Also replied here /forum/form-no-16aa-74913.asp
agree with expert
CAclubindia
