Form 16

Ranveer (Querist) 24 July 2012 This query is : Resolved
Sir,
If I being an employee furnish all reqd. details regarding my savings and investments (with proof) to the company in which i work and then i dont submit form 16, is that fine or any problem may occur.

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adv. rajeev ( rajoo ) (Expert) 25 July 2012
If your income p.a. is more than Rs,500,000 then you will have to file ITR

Guest (Expert) 25 July 2012
Form 16 is a TDS certificate issued by the employer to the employee.It is for your record only and proof of your evidence of paying the tax.

In case your income exceeds the ceiling limit of exemption limit from filing the IT return,then you are to submit the same.

Adv.Ashwini Khatri (Expert) 25 July 2012
Dont worry if you have only salary income under five lac or tax already deducted by deductor than dont have to submit your return to income tax department.

Guest (Expert) 25 July 2012
If TDS has been made against your salary by your employer, then you are required to file the IT Return.

Please read this in addition to my views given above.