22 February 2011
It is possible.........Employee has any other income..he can declare to company to include his form 16 or if Employee worked in two or more companies in one financial year....he may declare his earnings in other companies
If an employee has some income other than salary, like interest etc income & he does not want to get into paying any advance tax or self assessment tax, then he can declare the same to his/her employer.
The employer shall calculate the TDS on salary inclusive of such other reported income also.
22 February 2011
absolutely possible.... other income can be interest on FDs & Bank A/cs, insurance commissions, agriculture, and many more listed u/s 56
22 February 2011
I think if u seen -30,000/- means that person getting hp loan from dept. itself & paid from salary as regular installlment. that would be shown in other income (-). and (+) can be added to income as per experts opinion. you have seen right Form 16.
CAclubindia
