Can any body clarify about the issue of form 16 from salaries. if there is no tds is deucted can i issue the form 16.
4 Replies
(Guest)
Form 16 (or salary certificate in layman's language) is a certificate issued by an employer to all his employees for a particular financial year at the end of the said year reflecting the total salary paid and amount of tax deducted ('TDS') during the year
if not tds dedected it will not mention in from 16
Mahesh Bingi
(Tax return preparer)
(462 Points)
Replied 01 March 2017
Hi, you have to issue the Form 16 from TRACES if deducted or if not deducted by considering Tax exemption receipts..
Diamond Goyal
(Finance Accounts Taxation & Auditing)
(90 Points)
Replied 01 March 2017
Form 16 is a certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source on salary.
Hence it can be provided to every or taxable employees for their satisfaction as to how much amount of tds was deducted from his/her salary and since this is a legal document and can be used to file the ITR by the employees too.
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 01 March 2017
no harm in issuing form16 even for employees who have no taxable income
Recent Topics
- ITC on Warranty Extension
- TAX RELIEF ON SEVERANCE PAY
- Offline appeal documents doubt
- Https://www.facebook.com/calmxcbdcapsules/
- 15CA Mistakes
- Uploading missing sales invoice
- Shipping from Netherlands To Egypt for Indian cust
- Valuation and accounting treatement of Electronic
- RPT in view of availment of msme benefit
- TDS on rent new finance bill 2025
Related Threads
CAclubindia
