Issuanace of form 16
This query is : Resolved
27 February 2013
I have doubt about issuance form 16 as the said form will be issuing only when tax is deducted from employee's salary whereas if any employee whose salary is not taxable if needs a home loan then bank is insisting of Form 16 other wise same is liable to reject the loan. Employees are making compliant that co. is not giving form 16 , what can be solutions for the same.? Can any body advice.
27 February 2013
Tats true wenava an individual approaches the bank for a loan, he is asked to furnish Form -16 irrespective of his Income.
In your case you can issue form 16.
I don't think there is any thing that restricts any body from issuing Form -16.
View of oders 'll b welcomed.
In your case you can issue form 16.
I don't think there is any thing that restricts any body from issuing Form -16.
View of oders 'll b welcomed.
27 February 2013
The form 16 is certificate of income tax department to certify of tax deducted by company on behalf of individual.
27 February 2013
I know tat!
Bt several co's issue form 16 irrespective of their income as it serves as a proof of Income earned
Bt several co's issue form 16 irrespective of their income as it serves as a proof of Income earned
27 February 2013
might be IT department can hold companies for penalty for furnishing & using form wrongly
27 February 2013
There's only penalty for non-issuance and not on issuance of form-16.
And there is no such misusing of Form -16 by merely issuing it.
And there is no such misusing of Form -16 by merely issuing it.
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