Form 16 on Inter Company Transfer

This query is : Resolved

S Kumar (Querist)
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18 June 2009 Sir,

X & Y are companies in the same group. Few employees were transferred from X to Y during the year, say in Sep 08.

When the Y Co. generates the Form 16, should it include the details of income from X Co.?

Or two seperate set of Form 16 are to be generated.

Thanks & Best Regards

S Kumar

chetan soni

chetan soni (Expert)
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18 June 2009 You need to do both the things,

1. When y co issue form 16 it needs to take into consideration salary paid by x co.

2. Also x co needs to issue the form 16 for relevant period.

All this is as per sec 192.

S Kumar

S Kumar (Querist)
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19 June 2009 Dear Sir,

Thank you very much for the clarification.

Best Regards

S Kumar

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