Hi Folks,
Please provide the answers to the below-mentioned queries. Can the employee ask the employer to issue Form 16 in case he/she is filing the ITR for a nil/zero amount? Form 16 can only be issued at the end of the financial year and not in the middle of the financial year. Is this correct? Please reply.
Suppose a person joins a new company in the middle of the financial year, and the new company's HR asks for Form 16. What should be done? Will a salary certificate suffice the needs and requirements of the HR Department?
Thanks & Regards
From India, Madras
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Please provide the answers to the below-mentioned queries. Can the employee ask the employer to issue Form 16 in case he/she is filing the ITR for a nil/zero amount? Form 16 can only be issued at the end of the financial year and not in the middle of the financial year. Is this correct? Please reply.
Suppose a person joins a new company in the middle of the financial year, and the new company's HR asks for Form 16. What should be done? Will a salary certificate suffice the needs and requirements of the HR Department?
Thanks & Regards
From India, Madras
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The new company has nothing to with Form 16. Form 16 is a TDS certificate and not for a proof of CTC or the like
From India, Hyderabad
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5From India, Hyderabad
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1. Form-16 is merely a financial statement by the employer regarding your income/deductions during the financial year. Hence, no matter whether you are filing a nil return or otherwise, Form-16 is to be issued, and you have every right to receive Form-16.
2. An employer has the right to ask for your Form-16 to verify your claim of CTC.
3. If you join during the middle of a financial year, the employer will ask for your declaration in Form-12B regarding your income/deductions during the period before joining the duty. The employer has to make deductions for the balance period based on your declaration.
From India, Madras
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2. An employer has the right to ask for your Form-16 to verify your claim of CTC.
3. If you join during the middle of a financial year, the employer will ask for your declaration in Form-12B regarding your income/deductions during the period before joining the duty. The employer has to make deductions for the balance period based on your declaration.
From India, Madras
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Automated TDS with Form-16 for C.G. Financial Year 2011-2012.xls