When there is Nil tax calculated based on taxable salary income less allowable deductions etc , is it mandatory to issue Form 16 to the employee for example
Income is 250000
Less
80c etc......50000
Taxable is....200000 less than the allowable limit
under the above example Form 16 is mandatory to issue or not
please confirm
Agree with CA Nitin K. Varshney Sir.
in the salary return we fill the salary particulars claim exemptions deductions as per rule and arrive as nil TDS , in such case we need to issue form 16 as such
CAclubindia
