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Can I get Form 16 even if TDS is not deducted?
The employer or the entity that deducts your Tax Deducted at Source (TDS) is legally bound to issue Form 16 by May 31. Hence, if no tax has been deducted, Form 16 will not be issued to them.
Is Form 16 and TDS certificate same?
What is Form 16? Form 16 is your salary TDS certificate. If your income from salary for the financial year is more than the basic exemption limit of Rs 2,50,000 your employer is required, by the Income Tax Act, to deduct TDS on your salary and deposit it with the government.
What if there is no TDS?
No TDS merely means the bank will pay you the entire interest amount without forwarding the tax on it to the government. But whether it is recurring deposit, post-office deposits, national savings certificates, or any other savings, if there is no TDS, the interest income is taxed.
Is it mandatory to claim TDS?
Any person making specified payments mentioned under the Income Tax Act are required to deduct TDS at the time of making such specified payment. But no TDS has to deducted if the person making the payment is an individual or HUF whose books are not required to be audited.
Can I get form 16 from my employer without TDS?
Yes, you can get Form 16 from your employer without TDS. In such cases, you will receive Form 16 Part B. Part B: it is an annexure with details of Income Chargeable under the head of Salary.
What is form 16 and how to apply for it?
Form 16 is “Certificate of Deduction of Tax” by employer, if no tax is deducted, Form 16 cannot be issued. However you can ask your employer to give you a Salary Certificate. This practice is followed by most corporates. From a practical standpoint, employers don’t file separately for employees who don’t have any tax deduction.
What if TDS is not deducted on my salary?
In case, no TDS is deducted on your Salary you will not receive Form 16 Part A. Usually, employers do not provide Form 16 is no TDS is deducted. However, you can ask your employer to issue Form 16 Part B. [ 1]
Is form 16 required for non-taxable salary?
Form 16 is both for taxable or non-taxable salaried persons. One should get it irrespective of tax paying status. Yes, Form 16 shall be given whether the salary was taxable or not. For an employer, it is appropriate to submit the details of salary of all employees wither their salary taxable or not, through the eTDS return.