What is Form 16aa?
Certificate for tax deducted at source from income chargeable under the head “Salaries” – cum – Return of income.
What can I do if my employer does not give me Form 16?
In case an employer fails to provide you with a Form 16 after having deducted TDS – the minimum penalty that the employer will pay is Rs 100 for every day the default continues.
How can I get my form 16 online?
Steps to generate TRACES Form 16 Part-A.
- Step 1: Login to TRACES website(www.tdscpc.gov.in) by entering the “User ID, Password,TAN of the Deductor and the Verification Code”.
- Step 2: First check the status of your return 24Q4 for the Financial Year of which you want to generate the Form 16 Part-A.
Is it mandatory to issue Form 16 to all employees?
Are you still wondering if Form 16 is mandatory? Well, if you’re an employer, it is compulsory for you to issue Form 16 to the employee. While you can file your ITR without Form 16, you may be required to furnish it to the Income Tax Department in case of anomalies, or discrepancies found in your returns.
Who will issue TDS certificate?
TDS certificates have to be issued by a person deducting TDS to the assessee from whose income TDS was deducted while making payment. For instance, banks issue Form 16A to the depositor when TDS is deducted on interest from fixed deposits. Form 16 is issued by the employer to the employee.
How can I download Form 16aa?
Step by step procedure to download Form-16A
- Step 1: Make a request for Form-16A. Once you login to Cleartds.com, go to TDS return Dashboard under Deductor and click on “Work on this Return”.
- Step 2: Download the zip file and unzip it.
- Step 3: Convert the text file into PDF file.
Should employers issue Form 16?
Form 16 is your salary TDS certificate. If your income is below the basic exemption limit, your employer will not deduct any TDS and may not issue this form to you. If you have worked with more than one employer during the year, you will have more than one Form 16.
How do I ask for Form 16 from a previous employer?
Dear Sir/Madam, I, P Suresh Kumar, have been working in ABC company for last 2 years. I have to file my income tax returns for the previous financial year, so I need my form 16. So here I am requesting you to please send me my form 16 copy so that I can file my IT returns.
Can we file ITR without 16?
Even if you don’t have Form 16, there are several documents such as salary slips, Form 26As etc. you can use as a reference to file your income tax return (ITR).
Why is form 16 required?
Form 16/ 16A is the certificate of deduction of tax at source and issued on deduction of tax by the employer on behalf of the employees. These certificates provide details of TDS / TCS for various transactions between deductor and deductee. It is mandatory to issue these certificates to Tax Payers.
Can I get loan without Form 16?
If the Form No 16 is issued by a listed company or a government department or any reputed employer, it gives the lender an assurance about the genuineness of the home loan applicant’s salary and continuity of income. This, in turn, may impact your home loan eligibility.
Is Issue of TDS certificate mandatory?