Hey Everyone, Employee is asking for form 16; but in our company we are not deducting TDS or IT. But he wanted it for loan procedure. Please suggest me
From India, Alibag
From India, Alibag
Hi, Employer is liable to deduct Income Tax or TDS provided their salary ceiling exceed beyond exemption limit. Have you checked with your Accounts team as to how they are managing this ?
From India, Madras
942From India, Madras
Hello,
It is responsibility of an employer to deduct Taxes as per applicability. As per Section 192, the employer is required to deduct tax at source on the amount payable at the average rate of income tax. This is to be computed on the basis of rates in force for the financial Year in which payment is made.
It is responsibility of an employer to deduct Taxes as per applicability. As per Section 192, the employer is required to deduct tax at source on the amount payable at the average rate of income tax. This is to be computed on the basis of rates in force for the financial Year in which payment is made.
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Employee Appraisal Form new.doc