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,
SS
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,
SS