Hi there, I am a Self-employed person. I have recently set-up a casual/seasonal business. I have PAN and TAN number on Firm's name.
I have 3 employees including me who have salary exceeding income tax threshold level and another 4 employees who have salary below threshold level. I also have some freelance employees.
I would like to issue Form 16 or Form 16A to all employees, irrespective of tax liability or TDS incidence because of the following reasons.
1. Helps employees to file IT returns.
2. Helps while taking Loan (Housing Loan, Car Loan and Credit cards).
3. Serves as Proof of Employment.
My Queries are as follows.
1. Can I issue Form 16 or Form 16A to employees/freelance agents who do not have any tax liability?
2. The online TDS payment page or manual TDS challan has space only for TAN and tax amount. How do I map individual PAN numbers and respective TDS amounts.
3. How to generate Form 16 and Form 16A (both online and manual).
Help appreciated.
CAclubindia
