Employer Not Providing Form-16, Can I Pay The Tax Individually ?

Kumar_Anbu
Hi All,
I hope all good with you :)
My current situation :
I'm working in a start-up company (less than 10 people) for past 1+ years ; CTC around 4.5lpa ; no pf and tds deduction being carried out ; I been receiving salary in my bank account after demonetization only (past 6 months only), before that i received salary as cheque. Right now my employer is not giving form-16, & says we are LLC (Limited liability company);
With self interest I would like to pay the tax .
Question :
1. Can i pay tax on my own with payslips ?
2. If yes, Can i show the paid IT tax/returns receipt to next recruiter (if i switch over to new company, because new recruiter asks form-16)
Please guide me :)
Thanks & Regards,
Anbu Kumar
Apex Management
Dear Anbu Kumar,
Since your organisation is employing less than 20 workers as such provisions of EPF Act are not applicable at present. However, if the employer and majority of employees give their consent, it can be implemented under section 1(4) i.e. called voluntarily coverage.
As far deduction of TDS is concerned, if your income from salary and other heads cross the ceiling limits, deduction of TDS on salary part is the responsibility of your employer. If he has not deducted TDS, you can file your return of income and produce your pay slip as proof of your salary in the absence of form 16.
Kumar_Anbu
Thanks for the reply ,
Can i show the paid IT tax/returns receipt to next recruiter in absence of form-16 (because new recruiter asks form-16)
Bharat Gera
Yes. You can show the complete set of documentation to the Prospective employer along with your salary slips.
loginmiraclelogistics
First of all you have to compute what is your 'Taxable income' for every year, then you'll know how much IT to be remitted to govt. a/c. or you are not subjected to IT. This is because you have stated CTC of Rs.4.5 L p.a. and there is no bifurcation available. Some of the components of CTC are tax free. So if you take all of 4.5 L as taxable you land up paying IT for the exempted income also which is unwanted. If you wish you can find out the taxable income and tax liability using automatic computation Excel sheet made available by our friends on the net'. Make use of them to find out what is the position. If you are taxable you can remit the tax and file the Return in the form applicable on line. Form 16 issued by employer is not compulsorily to be attached with return but paying tax is your responsibility also. Once paid, all IT paid by you is available on IT Dept. site online, download them for your records.
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