I am looking for the format of Indemnity Bond which is required to issue the Duplicate Form16
In my org, currently, we are issuing the softcopy of Form16 digitally signed and mailing the employees on thier email id. If somebody deleted the mail and require new email for form16 , Is it required to ask to provide the Indemnity Bond from employee.
Please clarify.
From India, New Delhi
1In my org, currently, we are issuing the softcopy of Form16 digitally signed and mailing the employees on thier email id. If somebody deleted the mail and require new email for form16 , Is it required to ask to provide the Indemnity Bond from employee.
Please clarify.
From India, New Delhi
Hi,
I feel that the indemnity bond is not required. A simple letter from the employee that he has misplaced or lost is good enough to issue a form 16. I am saying this because presently, now-a-say E-tds is compulsory and tax payments are all tracked. Thus the person to whom u are issuing duplicate form 16 can not misuse it whereby the income tax department may require the Co. to make good the loss suffered by it. (the purpose is to make good the loss the Co. suffers due to misuse of duplicate form).
Moreover the income tax department also does not require the employee to attach form 16 along with the return.
Warm Regards,
Divya
Join my SMs chanel on income tax. It’s Free
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From India, Mumbai
I feel that the indemnity bond is not required. A simple letter from the employee that he has misplaced or lost is good enough to issue a form 16. I am saying this because presently, now-a-say E-tds is compulsory and tax payments are all tracked. Thus the person to whom u are issuing duplicate form 16 can not misuse it whereby the income tax department may require the Co. to make good the loss suffered by it. (the purpose is to make good the loss the Co. suffers due to misuse of duplicate form).
Moreover the income tax department also does not require the employee to attach form 16 along with the return.
Warm Regards,
Divya
Join my SMs chanel on income tax. It’s Free
<link outdated-removed>
or
Send JOIN INCOMETAXONLINE to 9870807070
From India, Mumbai
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Indemnity Bond - Format.doc