This
is the common demand regarding issuing of Form-16 by the Employer to
Employee, even if Employer not deduct any Tax from drawn salary. What
shall happen when Employee want's his Salary Certificate Form-16 for the
same year. In such situation Employer is liable to issue Form-16 to
each and every who have already hold the PAN Card.
However
your employer must issue a salary Certificate Form 16 who are already
hold the PAN Card as per the Income Tax Instruction. Income Tax
Certificate (Form-16) is applicable to such employee who have submit
his Income like as salary or other income (any amount) not deducted or
not, during current Financial Year. If the Employee deduct any amount
of Tax during Financial Year, Form-16 must be issued to Employee u/s.
203 of Income Tax Act.
As per the Reserve Bank of India has already circulate to the all Nasalized Bank for issuing the form 16 to the Pension Holder.
As per the Reserve Bank of India has already circulate to the all Nasalized Bank for issuing the form 16 to the Pension Holder.
This
Salary Certificate is most important to PAN Holder who have working in
any sector, like as when any employee who’s Tax not Payable or not fall
in to the Income Tax Slab, but he is get the Form 16 as his/her proof of
Income, which is need for various purpose.
When
any employee willing to get the Bank Loan from any Bank of Branch, the
respective Bank asking the Salary Certificate Form 16 as he fall the Tax
Slab or not. But the Bank’s requirement the Salary Certificate for
giving the Bank Loan either he/she can not be able to get the Bank’s
Loan.
Download the Automatic Form 16 for the Financial Year 2013-14 from the below given link:-
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