Form 16

:).. TDS is required to be deducted when payment is made ..i.e. when salary is paid.

that too on Basic salary.

Deduction under chapter VI wont be considered there.

Chapter VI comes into light while we are computing the net total income of an individual.

TDS must be deducted and Form 16 should be provided :)

in my opinion form 16 should be issued only if tds is deducted

rectify me if i am wrong

You are suppose to issue a form 16 even if you have not deducted TDS also.

EVEN IF NOT ANY TDS DEDUCTED FORM 16 TO BE ISSUED

When TDS is not deducted where is the question of TDS certificate?

TDS certificate is not required to issue in case where TDS not deducted.

Let me know if i am correct...

Form 16 has to be issued . The personnel may require it for various reasons like applying for loan etc.

Originally posted by : Bhakti
	Form 16 has to be issued . The personnel may require it for various reasons like applying for loan etc.

AGREED.

only through Form 16 employee shall come to know the total tax deducted and income on an ANNUAL basis..

Hello,

Please can u tell me which documents should be required fro ITR 1 (Salary Return) & please tell me in details how can we do the salary return

Thanks in Advance,

Regards,

Manish Lingayat.

for ITR 1, only form 16 shall be sufficient. If the employee has worked with more than 1 employer then ensure that the form 16 contains salary details from both the employers.

For filing ITR with Income Tax dept.,nothing needs to be attached. Only ITR shall be submitted.

Hello Bhakti madam,

Thanks for sharing valuable information with us. And one more things please u tell me Difference between Pvt. Ltd. co. & LLP (Limited Liability Partnership).which is the best option.

Regards,

Manish Lingayat

The difference can not be identified in one line. LLP s are that of partership except the fact of having seperate legal entity. LLP is combination of Partnership and Private Limited Company incorporating benefits of both and eliminating disadvantages of both. It depends upon your purpose for forming. whether to form LLp or company.

Manish,u must  have form 16 of  Assesse it contains details of salary including perquisites & Arrears ,it also provide u TAN no of deductor/Employer which u need to mention it with Address.despite the fact no TDS being done form 16 must be issued.Further u need not to attach form 16/other documents but u must ensure yourself that all information needed in return to be provided.

Hello Shaishav sir,

Thanks for that

Regards,

Manish