How Can I Apply for a Home Loan Without Form 16 for 2010-11? Urgent Help Needed

Dear All, I wish to apply for a home loan, and below is the issue that I am facing: I worked with an organization from Oct '07 - Nov '10. I have Form 16 from 2007 till 2010 but do not have it from 2010-11. I requested the same from my employer, but he informed me that he was not deducting any taxes from my salary, hence can't give me Form 16. Now the issue is I have already spoken with the Home Loan Department, but they are asking for the same. Please let me know how I should go about this as I need to apply for a home loan as soon as possible.

Regards,
Pyush Bubna

As Mohit correctly said, get the salary slips from the employer. If you have the salary slips with you, then approach a Chartered Accountant (CA) and inform him/her that you are not entitled to pay any tax for the said financial year. The CA will draft Form 16 for you, get the employer's stamp on it, and go to the Income Tax (IT) office. You will receive an acknowledgment copy there, which you can submit to the bank.

Issuance of Form 16 Regardless of Tax Payment

Whether you pay taxes or not, Form 16 must be issued. Your then employer may not be aware of this.

Alternative Documentation for Home Loan

For a home loan, payslips are sufficient.

Pon