Is Form 16 Mandatory when the Gross Total Income from Salary exceeds Rs. 2,50,000?
Is Form 16 Mandatory when the tax payable is zero due to deductions and exemptions but the Salary is Rs. 6,50,000?
1) Form 16 is issued only if the employer is liable to deduct TDS from salary paid. That depends on whether he is subject to tax audit.Just because salary paid is 250000 doesn't count to deduct TDS. Only when an employee's annual total income from all sources exceed 500000 and employer is subject to tax audit then only issued.
2)Yes if the employer is subject to tax audit
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