I am working in a small firm in a small town in Gujarat.My monthly salary is 15000/- My employer is unable to give me by cheque. So I am receiving every month my salary of 15000/- in cash. The very next day I deposit this full amt. in my saving a/c. and withdraw as and when required for household exp. (a) Will these entries for whole year will qualify as my salary income for taking home/auto/personal loan ? (b) my employer is unable to issue form-16 as he is not showing / showing less amt in co's books of a/c. In this case, will I.Tax dept. accept my ITR for FY 08-09 without form-16 ? I invested 30000/- in PPF & LIC premium. So tax liability is nil. PL. REPLY WITH RELEVANT SECTION.
29 August 2009
Form no. 16 Or salary Certificate is Required to file the Salary Return. WIthout Form on. 16 or Certificate and salary slip Bank can't give home or Different type of loan.
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