I got an appointment letter asking me to submit Form 16 from the previous company on the day of joining. My salary while working in my previous company was below 2 lakh per annum, and I was told by my previous employer that it is not required in my case.
What is this Form 16 exactly? Is Form 16 really not required in the case I mentioned?
From India, Visakhapatnam
Acknowledge(0)
Amend(0)
1What is this Form 16 exactly? Is Form 16 really not required in the case I mentioned?
From India, Visakhapatnam
Acknowledge(0)Amend(0)
Hi,
Form 16 pertains to income tax, and the tax working and paid details will be given in Form 16. In your case, it's not applicable. You can always inform your new company, and if they are not accepting, you can obtain a letter from your previous employer and submit it to them.
Acknowledge(0)Amend(0)
Form 16 pertains to income tax, and the tax working and paid details will be given in Form 16. In your case, it's not applicable. You can always inform your new company, and if they are not accepting, you can obtain a letter from your previous employer and submit it to them.
Acknowledge(0)Amend(0)
Thank you for the info! :)
According to my payslips, I was charged 200 Rs professional tax every month when I should be charged 150 Rs according to the PT tax slabs in my state. I do not care about the 50 Rs difference but will there be a problem with that in the future?
From India, Visakhapatnam
Acknowledge(0)Amend(0)
According to my payslips, I was charged 200 Rs professional tax every month when I should be charged 150 Rs according to the PT tax slabs in my state. I do not care about the 50 Rs difference but will there be a problem with that in the future?
From India, Visakhapatnam
Acknowledge(0)Amend(0)
Dear Aristar,
Form 16 is issued to all bona fide staff members who are paid a salary (as per IT Rules 92B). It contains the details of salary, applicability, and deduction of Income Tax, i.e., TDS during the financial year. To view the format, you can visit any site under Google and search for "Form 16."
Usually, it is issued to employees drawing a gross salary of more than Rs. 2.00 lakhs per year. However, upon request, your old employer can issue Form 16.
Your new employer just wants to see what your earnings were with your previous employer; they are not necessarily seeking to confirm your declarations.
Regarding your statement on Professional Tax Deduction, please clarify the state you belong to. If you are certain, you can ask your employer for a refund.
Ramakant
From India, Pune
Acknowledge(0)Amend(0)
Form 16 is issued to all bona fide staff members who are paid a salary (as per IT Rules 92B). It contains the details of salary, applicability, and deduction of Income Tax, i.e., TDS during the financial year. To view the format, you can visit any site under Google and search for "Form 16."
Usually, it is issued to employees drawing a gross salary of more than Rs. 2.00 lakhs per year. However, upon request, your old employer can issue Form 16.
Your new employer just wants to see what your earnings were with your previous employer; they are not necessarily seeking to confirm your declarations.
Regarding your statement on Professional Tax Deduction, please clarify the state you belong to. If you are certain, you can ask your employer for a refund.
Ramakant
From India, Pune
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.