Vinodh Lakshmanan (MBA) (64 Points)
02 April 2013Hi,
We are a new company started in February 2013. None of our employee's salaries will cross the tax slab for the FY 2012-2013 and we do not have a TAN number, so we didn't deduct any tax.
Can we issue form 16 to our employees with no tax deduction, once we get our Tan number ? If so does any of you can help me with a form 16 format ? Thanks !
Regards,
Vinodh
Manjunatha M K
(Manager - Accounts)
(318 Points)
Replied 02 April 2013
Form 16 should be issued only if there is deduction of Tax under section 192. If there is not tax deduction, you can't issue Form 16.
Now you have file e-TDS return and request for Form 16 in TDSCPC website: https://www.tdscpc.gov.in/
They will send you Form 16. You can't prepare on your own.
Vinodh Lakshmanan
(MBA)
(64 Points)
Replied 02 April 2013
Hi Manjunath,
Thanks ! My employees are asking Form 16 for their individual income tax purposes. They told me, it is the industry's practice to give Form 16 for nil tax deductions even. I wanted to confirm that. Thanks !
Regards,
Vinodh
Manjunatha M K
(Manager - Accounts)
(318 Points)
Replied 02 April 2013
You can issue Salary Certificate to your employees
CA Neha Chauhan
(Chartered Accountant)
(574 Points)
Replied 02 April 2013
Dear,
If you are not liable to deduct TDS then there is no requirement of filing E-TDS return....your question is what to do as your employees demanding Form 16....you can give them form 16 by disclosing salary they drawn ...the formats are avalible in word and excel on google ...kindly download it, fill it and give it to your employees....
Regards,
Neha Chauhan
CAclubindia
