Hi All,
I am an IT Consultat, and have a PAN(no TAN). I employ a person who works for me whose total CTC for the year is 1.3 lacs. I have his PAN number.
Is it necessary to give him a Form 16? If yes, should I have a TAN for it?
What proof should I show the IT department that he is employed with me, to claim his Salary as expense for me?
How many employees am I legally permitted to have without having to pay PF and Professional tax for my employees?
Thanks,
Krishna
as TAN no. is required to deduct tds and there is no need to deduct tds on the income of 1.3 lacs as it does not came under the slab which is 1.6 lacs during the F/Y hence to claim the salary as an expense there is no need to show the form 16 for claiming the salary as an expense.
For the liability of P.F if there is 20 employees or more than 20 employees employed during the F/Y then the P.F act applicable and it is exempt even 20 employees are employed in the eshtablishment for cooperative society, By notification in the official gazzate and the undertaking of the CG,SG
Thanks Tanuj. My query is answered.
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