Form 16

TDS 459 views 2 replies
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accountant
29 Points Joined August 2008

Hi, One of our staff, whose salary is below the income tax ceiling, is asking for Form 16, as he has to avail a loan from a bank. Since he is not coming under the income tax  is there any problem to issue him Form16? He is having PAN  Pls give me an advise in this regard

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On 05 August 2011 at 11:10 Report
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Student
800 Points Joined May 2008

Form 16 is a TDS certificate and not a Salary certificate,

However it's general practice to issue Form 16 as a Salary certi. even if Tax has not been deducted,So you can also issue Form 16 but don't mention TDS return code,leave that field Blank..

This is a practical way to satisfy need of such employees..

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On 05 August 2011 at 11:17
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accountant
29 Points Joined August 2008

Thanks... Tarun

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On 05 August 2011 at 11:32


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