I dont have Form 16, last employer out of business and gone


Hello all,

I left my last job in Sept 2007. Since then I moved to another city as housewife.

After being a housewife I havent filed tax returns for all these years (2008, 2009, 2010, 2011-at present) as I was/am not earning.

Now I need to return back to work and I am currently looking for a job in Pune.

My question is - I couldnt collect my FORM 16 from my last employer before leaving my job in Pune. Now when I find a new employer and start earning I will need to file tax returns. But my last employer has gone out of business and sold the company and I can no longer get hold of my FORM 16.

What do I do in this case? What are the different problems I can face once I begin my career and how can I solve this tax returns problem I will face in future?

Thanks in advance,

Pallavi

 
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Dear Pallavi Jee,

You can obtain the proof of earlier employment throug, obtaining your tax credit statement in from no. 26AS, for the relevent assessment year, this would solve your problem. For obtaining the samy you must register with https://incometaxindiaefiling.gov.in/portal/index.jsp and obtain form no.26AS, which invariably contaings the Tax Deducting company details, which you can share with the prospective employers. If in case there is no tax deduction done by your past employer, then nothing can be done.  In case if you need any further help you can reach us at drsaca1@gmail.com

Happy hunting for your new job and god bless

Regards

D.R. Sastry, FCA
 

 
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Hi Pallavi,

In addition to what Sastry ji suggested I would like to add that, in your previous employment if your income was below maximum exemption limit (for ladies) then I would say let it go whatever it was.

Even after getting Form 16, from employer with whom your were employed in past, will of no use like if you are thinking of to pay your Tax for that previous year then you can not or ir you want to file Return of that previous yearn in this AY as Belated Return you can not , If you are thinking of to take housing or other loan then also break of 3-4 years will not make you eligible, if you want ot negotiate with the new empoyer on the basis previous employer's c ertificate you can do it by showing your last salary slip/ appointment letter or may be bank satatement for last salary drawn and proof of employement is your relieving letter.

I could not understand the reason behind it.

Cheers, VK Dwivedi

 

 
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Thank you Mr D.R. Sastry and Mr VK Dwivedi for your responses. I have got my tax credit statement according to Sastryji for the financial year 2007-2008 in the FORM 26AS by entering my PAN number in https://incometaxindiaefiling.gov.in/portal/index.jsp website.
Tax was deducted at source during Apr 2007 - Sept 2007 and I was concerned whether it was paid to government for the assessment year 2007-2008 since I left without looking back for any FORM 16 or tax return followups with the previous company.Thankyou Sastryji.

As to Mr Dwidevi, I was merely worried about the legal issues involved of not filing tax returns with my career, financial matters or anything else it will impact. As you mentioned I cant take any kind of loans (car, study, personal, home) based on those years (I hope atleast I can, once I re-establish my career - please confirm!). I have my previous employers salary slips and relieving letter. They are my best bet for restarting my career.

As to my belated tax returns filing which is another story - government owes me money since 2005 and they have not given me back my refunds since then. Even for 2007-2008 assessment year, tax was deducted at source by my company, but government owes me refund based on my home loan credits. But government's inadequacy for paying me back my refunds since 2005 made me reluctant and disinterested in coming back to Pune - getting my home loan statement for tax refund from bank, and then going to my previous company and asking them for all the tax return forms and then filing those to government even though they owe me money for 2005-2006, 2006-2007, 2007-2008 assessment years.

I saw no point then - waste of time and energy and more waste of my money - inability to see refund from government :(

 
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Hi Pallavi,

Great! you got the desired info.

VKDwivedi

 
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Pallavi Jee,
The very fact that the credit available in 26AS, pertaining to
financial year 2007-2008, asst year 2008-2009, makes amply clear that,
tax has reached the Income Tax Department. Please also note that, 26AS
is as good as your salary certificate in form no.16, If your wish it
will enable you to file return of income by providing the TDS details
culled out from the very same statement. My object was to help you
find a way to establish your tax deduction and identifying an evidence
for your past employment. Coming to the point of filing or not filing
returns, its any way in your hands, if you want to act upon the
situation and solve your tax obligations you may do it, as we wont be
able to do anything with retrospective effect. Good luck to you.
CA.D.R. Sastry,FCA

 
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Dear Mr. Sastry and Mr. Dwivedi,

I am in the similar situation., but I couldn't get Form16 or 26AS for AY 2007-08 as TRACES site is displaying up to last five years(AY 2009-2010) sad

My previous employer is not able to provide Form16 for AY 2007-08 as it was manual and more then 5 years old documentation was disposed after owner ship was changed.

How to overcome the situation.. Please suggest.

There is outstanding tax balance of 35K is being shown against my name for AY 2007-08 while my taxable income was way less then that.

 
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