I Need a letter format for for not having Form16 for my personal loan, can u please help on this. My company not provide any form 16 or deduct tax on my salary, i applied for personal loan and the bank need a letter in my company letterhead that im not getting From16 from my company.
Thanks & Regads,
17th January 2013 From India, Pune
I have same query as "Manas1984" has put up in this forum.
I also need a letter format for for not having Form16 for my home loan, My company does not provide any form 16 as they do not deduct tax on my salary, i applied for Home loan and the bank need a letter in my company letterhead that i ' m not getting From 16 from my company.
Request your support on this.
6th January 2014 From India, Cochin
I am getting Form 16a from my company and bank need a letter from company for home loan that why they are issuing Form 16 for salary.
Can anyone send format for the same letter, it will really help me to get home loan at earliest.
Kindly do needful.
15th March 2018 From India, Hyderabad
Income Tax Form 16 is a certificate from your employer. It certifies that TDS has been deducted on your salary by the employer. If an employer deducts TDS on salary, he must issue income tax Form 16 as per tax rules of India. Form 16 is issued once in a year, on or before 31st May of the next year, immediately following the financial year in which tax is deducted.
As per the rule, you can apply for 60 times of your in-hand salary as a loan amount. But, the loan depends on several factors such as your monthly expenditure, your current liabilities, etc. So, after submitting your papers they will sanction an amount you are eligible for after analysing your financial ability to repay the loan. So, I would advise you visiting the nearest bank to know how much loan you can apply as per your monthly salary.
Form 16 will be issued by HR of your company on request.
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17th March 2018 From India, Bangalore