Parmod Agarwal (Assistant Manager) (394 Points)
13 May 2013Dear All,
Can we issue form No 16 of those employees having Gross Total Income More than Rs. 200000/- but by way of Deduction US 80C , his Total Income is not chargeable to tax i.e. no TDS has been deducted from his Salary ? It is Compulsory to issue form No 12BA of those employees having Gross Total Income Rs. 200000/- or More? Please clear my doubt regarding this.
Thanks and regards
Parmod Agarwal
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 13 May 2013
It is compulsary to issue for 12BA whose salary is above Rs. 1.50 Lakhs
Yogesh Shah
(Managing Corporate Finance)
(1051 Points)
Replied 13 May 2013
Hi Mr. Pramod,
Yes, very much you can issue Form No. 16 to such employee having GTI more than 2 lacs (even if no TDS is deducted). In practical, employees having very less salaries even can demand Form No. 16 to employer. Its depend on demand of employee. If he needs it, he can ask, and then employer will issue the same to him.
In case of employees having taxable salary income, its must to issue Form No. 16 since this is the document which I Tax Dept can demand to support his 'returned income'.
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