18 April 2012
as per latest provisions,Form 16 downloaded from NSDL can only be issued (for banks & companies).This procedure is done to avoid data mismatch.
1.Can company issue Form 16 to employees who did not have taxable income & thus these data are never reported under TDS returns.As in this case,there would be no TDS amount involved & accordingly no mismatch of TDS data.
2.if ans to question 1 is no,How to incorporate the yearly figures into last TDS qtr so that employees of aforesaid category can receive Form 16 downloaded from NSDL site.
18 April 2012
I think you can give form 16 manually for this time
but you should have to used the Form 16 from NSDL website because you have only need to add. in Q4 annex. II non taxable income of employee by doing this you can save your time and whenever you need that soft copy you will easily take print of it
18 April 2012
Dear Mr. Tushar, But that is not mandatory. No where in Income tax it is told that eventhough not required, the employer has to given Form 16. If the employee wants to get a loan from bank, he can show his payslip or income tax return filed. For the sake of benefit of employee, employer cannot be made to suffer.
18 April 2012
yes, i agree. It is not MANDATORY. It is only ADVISABLE.
It is a simple thing. It needs to big time. Almost all Good Corporate issue Form 16 to all employees. It is just a part of Corporate Ethics & good employee management.
18 April 2012
Even some big corporates also will not do this because, they have 100s of employees who dont fall under income tax. Hence, they wont keep on going and issuing a Form 16 to all employees. I believe giving Form 16 will not be a Corporate Ethics. Time Management is important for them.
19 April 2012
NSDL can issue Form No. 16 for only those employees from whom the company or the firm has deducted Tax. Because what you have loaded in your TDS return is re-generated by NSDL so the employees from whom you not deducted any tax or those employees whose income is below taxable limit cannot generate their form No. 16 from NSDL. Now, to get it done while filing your TDS return you file data for all the employees whether their income is taxable or not then yest it can be generated by NSDL
19 April 2012
2.if ans to question 1 is no,How to incorporate the yearly figures into last TDS qtr so that employees of aforesaid category can receive Form 16 downloaded from NSDL site.
19 April 2012
if details for those employees were not entered while filing TDS returns for first 3 qtrs,is there any way to incorporate these into last 4th qtr return.
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