Respected Sir,
When EMPLOYER deduct TDS from EMPLOYEES Salary U/S 192, then EMPLOYER must issue FORM-16.
TDS on Salary U/S 192 is to be deducted only when Income of the EMPLOYEE exceeds BASIC EXEMPTION LIMIT
i.e., 2.5 LACS/ 3 LACS/ 5 LACS. as the case may be.
Any person responsible for paying salaries is required to deduct TDS before making payment. The Income Tax Act lays down that every person who deducts TDS from a payment, must furnish a certificate with details of TDS deducted & deposited. An employer in specific, is compulsorily required to furnish a certificate, in the format of Form 16.
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