ITR Query & Form 16 Query

(Guest)

1) For AY 24-25, Rebate limit is increased upto Rs.7.5L for Salaried & Rs.7L for Others, so tax will come Rs.0 upto that limit but ITR filing Limit is Rs.5L (Old) or Rs.7L or Rs.7.5L (New)-?

2) My friend work in Pvt Sector & he has not received form16 or Salary Slip & Salary also received in cash & Current Salary is Rs.4.75L. He expected from next year onwards he will receive Form 16, As he cross Rs.5L but New slab camed.So kindly suggest how can I help him to receive form16, As many employers in Pvt jobs having habit of not issuing form16 or salary slip to its employees.

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13 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (141703 Points)
Replied 23 March 2023

1. ITR filing limit remains Rs. 2.50 lakhs. Once the total income crosses the limit, ITR filing is mandatory.

2. No need to worry for form 16 if it is not provided by employer. Declare income based on own estimate.

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(Guest)

Thank You Sir for Updating related to Point 1

& In Point 2, My friend wants to take loan from Bank, so he requires the employer proof like salary slip or form 16 to show to bank, As ITR is self filed by Assessee.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (141703 Points)
Replied 23 March 2023

You can get salary certificate from Employer, when form 16 is not provided. Attach it along with bank statement & ITR copies as proof of salary credits.

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(Guest)

Sorry Sir not satisfied with your answer.

As No Proof is receivable from employer end & salary is also received in cash and employee has crossed the 1st slab of Income Tax i.e Rs.2.50L so he is primarily eligible from Traces Site for his Form 16 then secondary from employer.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (141703 Points)
Replied 23 March 2023

First of all, cash salary cannot be paid more than 10K at a time. & when the employer is not deducting TDS implies it is not on records. That is why I have suggested an alternative.

You may ask for form 16 from employer, but from the available fact, it will not be fruitful.

So, ask for salary certificate.

(Guest)

Sorry Sir I am not satisfied again with your response

As I had asked from my friend, His Employer follow the PF, ESIC & PT rules but unfortunately his salary is around Rs.38K which he gets in installments during the month in cash and As far as PF is compulsory for below Rs.15K holders & EISC for below Rs.21K holders, So his PF & ESIC is also not deducted so he can't claim any proof from PF or ESIC department for his satisfaction and PT is deducted but PT Department don't issue any type of certificate for employees that employer has paid his liability. So Primarily Traces Site is responsible for issue of Form16 then secondary his Employer.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (141703 Points)
Replied 23 March 2023

As per sec. 192 of IT act, if his salary per annum exceeds basic exemption limit, the employer is bound to deduct TDS and issue form 16 (part A) downloaded from TRACES website. (Even if net tax liability is zero). If the employer follows all other rules than why not for TDS?

TRACES do not issue any form 16 to employee directly.

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(Guest)

Sir,

192 is not updated in income tax records, As his salary is below Rs.5L So Tax Liability after Rebate is Rs.0 so why the employer will deduct the Tds.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (141703 Points)
Replied 23 March 2023

Even for nil tax liability but when estimated income exceeds basic exemption limit, employer has to file TDS return with the employee's name, & download form 16 part A from Traces.

Its mandatory to get form 16 (part A) from Traces once aggregate salary exceeds Rs. 2.50 lakhs. Otherwise, you may ask for salary certificate from employer.

(Guest)

Sir

If you are having Income Tax notification or Memorandum where this point is mentioned then request you to share with me. I will suggest my friend to leave this job join another firm, As it will be proved know his employer is not following the rules. Traces is correct from his side.

(Guest)

Sir

Normally Auditor suggests in Audit Cases & get the TDS Returns filed by reflecting all details but his employer might be covered in 44AD & discharging liability @ 8% that I am not confirmed about his employer.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (141703 Points)
Replied 23 March 2023

I have provided the facts as per act, and don't wish to change your concepts like 'the sec. 192 is obsolete' 'salary payments can be given in cash' etc. etc.

I want to just confirm that the employer must give form 16 if tax deductible as per act or should issue salary certificate.

I had given you that alternative, but you have your own grudges.

So, contact some paid professional and resolve the issue. Good luck.

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(Guest)

Sir

I confirmed in detailed salary was received in Bank, I just mentioned above by relying on my friend verbal words sorry for that but remaining all points were correct, So I finally suggested him to show Bank statement as a Proof for loan purpose & Section 192-I had not studied in detailed so request you to ignore that words.