29 July 2011
Salary package of a employee is Rs. 36 lacs per annum. for FY 2010-11 Rs. 26 lacs paid and TDS thereon deducted & deposited and Rs. 10 lac is still due to employee and accordingly no TDS deducted & deposited.
Query 1: Form 16 to be issued for what amount Rs. 26 lac or Rs. 36 lac
Query 2: Whether employee need to file ITR (assumption that form 16 issued for 26 lacs) as per form 16 or the whole salary i.e. salary received and due bur not received and whether he needs to pay self assessment tax on Rs. 10 lac salary alongwith interest u/s 234 A,B,C.
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