Indian Payroll
+2 Others

Dear ALL,

I am working with a private limited company based at Mumbai, from Jan-2010 and my anuual CTC for the F.Y. 2010-11 is around Rs.3,25,000. I have not yet filed Income Tax return or paid any taxes as I provide the Investment proofs, on the basis of which I get exemption from TDS. Now I need Form 16 of F.Y. 2010-11 since I am applying for Bank Home Loan. My organisation is not ready to give me Form 16 and have provided me a Salary Certificate. As per the explaination provided by the concerned authority of my Accounts department, they cannot issue Form 16 for the employees whom they have not deducted TDS for F.Y. 2010-11.

On the contrary, my brother (who is also working with a pvt. ltd. company based at Pune) has got his Form 16 for the F.Y. 2010-11 though his annual CTC is only Rs.1,56,000 (i.e. TDS is not at all applicable).

I am confused what to do and how to get the work done as I have to get the home loan sanctioned within next month.

I even asked my accounts department to provide any documentary evidence / goverment notification saying that Form 16 cannot be issued to emplyees who are not paying TDS so that I can show it to bank as a proof and reason for not submitting Form 16. But I did not receive the same from Accounts dept. and the concerned Accounts person told me to ask the bank person to talk to him.

Looking forward to your guidance...

Kind regards,

From India, Mumbai
Issuance of Form 16 is mandatory irrespective of TDS, it is statutory compliance on the part of employers. Send a written request to them for issuing Form 16.
btw, why the bank is asking for Form 16 for house loan? last 3 month salary slips and bank statement are sufficient for home loan.

From India, Lucknow
All the banks and home loan lending institutions like SBI, ICICI, LIC, HDFC, GIC, etc ask for Form 16 for sanctioning a Home Loan. Some banks ask for last 1 year's form 16, some ask for 2 years and some for 3 years. As I am taking home loan on my Salary, I am required to submit Form 16 also as a proof of salary break up and also bank's rule. Without submitting Form 16 my loan will not be sanctioned by bank as it is an important document without which banks do not process loan applications. Its mandatory if loan is applied to a nationalised bank like SBI.
- SS

From India, Mumbai
If Form 16 is not available, banks ask for last 2 years IT return copy alongwith last 3 months salary slip and 6 months salary account bank statement. - SS
From India, Mumbai
Employer has to issue the Form16 which mandatory whether the employee fall under tax liability or not. As per IT act each employer has to provide the form 16 to the employees. Hence you can ask for your form 16 from your accounts department further to proceed with bank.

From India, Madras
Dear All,
If employee has lost the Form 16 and organisation is not providing the detail or form again the is there any solution the get the tax deducted at source for that current and previous years. Then what solution does the employee have and not filing the E-return in practice.
Abhishek Sharma

From India, Haridwar
Your problem is very common as for other tax payers. But don't worry read the following articles. You don't need to talk anyone or force anyone. Just go to your online account and download your 26AS. It contains all your information about TDS deposit till date.
Read: What should I do if employer is not giving form 16?

From India, Delhi
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