Is Submitting Form 16 Mandotary..?

Hi Sabana,

Please see my answer below the questions.

Below are some doubts that I have regarding form 16 for income tax.....

1. Is it mandatory to file form 16 whethere a person has taxable income or not...??

A-1, you need not to file form -16 but if your income is taxable / exceeds taxable limits (in your case taxable limit is 185000) then you have to file income tax return in From No. ITR-1 on the basis of form no. 16 provided by your comany.

2. In case of taxable income if there is some home loan and insurances that nullify the tax....whether to file form 16 is must or not??

yes, if your income is taxable / exceeds taxable limits then you may claim deduction u/s 80 C of the income tax upto Rs. 1 Lac ( means 185000+100000=2850000) on investment in certain policies, housing loan interest, FD etc. further you may alos claim deduction u/s 80 D for mediclaim premium upto Rs. 15000.00 , again i clarify that there is no need to file form no. 16

3. Also providing form 16 to the employees is employers duty...isnt it...??

yes, normally every company is providing form no. 16 to its present employees as well as who have resigned during the year. If your company has deducted TDS then it is company duty to provide from no. 16 on the request of employees within 30 days of the end of financial year (i.e. before 30th April)

You must take form no. 16 from your company becoz it wud be helpful in filing of income tax returns as well as for taking any loan from banks.

Amjadkhan Shaikh

Currently there is no need for attaching the Form 16 along with your Income Tax returns, but incase there is a refund claim, it would be advisable to attach the form 16.
Also you will need the Form 16 or Tax calculation statement for filling up your tax returns.

Thanks for all your responses.....
In my case since I didnt remind or requested for form 16, I didnt get the same from my accountant (employer) and when I asked 2 days back also there was response that its not necessary to submit ITR (Income Tax Returns) when there is no tax payable....
And today being July 31st the last day to submit ITR, I dont seem to have any chance of getting form 16 and submit ITR....In this circumstance I heard that it can be filed together by next year....
Is that right....??

One more point...there was no TDS deducetd for me...
so only when TDS is deducted then its duty of employer to give form 16...is it...??

Hi,
it is the resposibility of the employer to give form 16, if the employee has taxable income, and tax deducted at source (TDS).
previously it was required to attach the Form 16, with the Saral form with the IT return. now the IT Dept has done away the requirement of attaching the Form 16, it the assesee does not get any return of money that is excessly paid as Tax.
regards,
T.Mahendar Reddy

You need not attach your Form -16, with your IT return. But you must have it for your records. Also, the details to be mentioned in the ITR-1 are derived from Form -16.
Best Wishes,
Vasant Nair

Yes Dear,
It is the employer's duty to provide form 16. Also, if your slab is within the taxable income, you can file your IT return with other financial Services with a normal fee of Rs100.00, however the form 16 has to be attached.
Apurwa Kumar
as you said its responsiblity of employer to give form 16.....is it to all employees or only to those who exceed the slab...??[/QUOTE]

Can anyone please tell me who should apply for Income Tax returns and how? i am sending the salaries of my employees. i have mentioned their monthly salary as well as their total ctc.
Salary Per Month Total CTC

8000 96000
9000 108000
14000 168000
15600 187200
23333 279996
25000 300000
27600 331200
30000 360000
40000 480000

Dear
If your annual taxable income is below 2, 50,000/- salary then there will be no TAX.
If your taxable income is below 5, 00,000/- salary then, there will be rebate of Rs.5000/- and the total maximum tax will be 10%
on 2, 00,000/- i.e. 20,000/- but if your salary exceed even by 1/- rupees there won’t be any rebate.
So you can say if the monthly gross salary upto 25k, there won't be any Tax.