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Thread: Form no. 16

  1. #1
    Junior Member akmisra is on a distinguished road
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    Default Form no. 16

    I was posted in two diffrent states (i.e. U.P. & Chandigarh) during assessment year 2011-12. Form No.16 is issue by the last employer only.In Form No.16, My yearly income(both Employer) are shown in Part B and summary of tax deducted at source only deducted by him are shown in Part A and Tax Payable/Receivable are shown in part B for the whole year.
    Can I fill the IT return without details of the tax deducted by the 1st Employer not shown in Part A of Form No.16 ?
    Last edited by akmisra; 08-06-2011 at 05:16 PM.

  2. #2
    Senior Member SASI is on a distinguished road
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    Part A should be furnished to you by both the employers.

    sasi

  3. #3
    Junior Member akmisra is on a distinguished road
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    Question Income Tax

    Respected Sir(s)/friends,
    Salary of March-2010 which is paid in April-2010 and deduction of IncomeTax in this. What this salary and IncomeTax deducion will include in new financial year 2010-11 for Income Tax calculations perpose ?

  4. #4
    Junior Member akmisra is on a distinguished road
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    Respected Sir(s)/friends,
    My income has not been computed corrctly in Form No.16 . As per my calcution,Tax is payable . Can I deposited Income Tax directly with the ITR-1(without Form No.16).

  5. #5
    Senior Member Victor is on a distinguished road
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    Quote Originally Posted by akmisra View Post
    Respected Sir(s)/friends,
    Salary of March-2010 which is paid in April-2010 and deduction of IncomeTax in this. What this salary and IncomeTax deducion will include in new financial year 2010-11 for Income Tax calculations perpose ?
    Yes the salary for March 2010 (paid in April 2010) will be included in the income for FY 2010-11. The tax deducted from the salary for April 2010 will also be included in the TDS indicated in Form 16.

    Since the salary for March is paid in April, the salary from March 2010 to February 2011 will be included in the income for FY 2010-11. The income tax deducted in this will accordingly be shown as TDS in Form 16.

    Kindly re-check your calculations. If tax is payable then you can pay the same through Bank using Challan 280.

    Form 16 is not required to be enclosed with ITR-1.

    Victor

  6. #6
    Junior Member akmisra is on a distinguished road
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    Question Income Tax

    Dear Sir(s)/Friend(s),
    Can I add my saving bank salary account interest income which is not reported in my Form no.16
    If I will add it,then my income will increased and balance Income Tax will be payable.
    Therefore, how can I directly deposited balance tax payable and submitted Income Tax return for the year2010-11
    Last edited by akmisra; 08-07-2011 at 09:17 AM.

  7. #7
    Senior Member Victor is on a distinguished road
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    Quote Originally Posted by akmisra View Post
    Dear Sir(s)/Friend(s),
    Can I add my saving bank salary account interest income which is not reported in my Form no.16
    If I will add it,then my income will increased and balance Income Tax will be payable.
    Therefore, how can I directly deposited balance tax payable and submitted Income Tax return for the year2010-11
    The balance tax payable can be deposited in the bank through Challan 280.

    Victor

  8. #8
    Junior Member gtresures is on a distinguished road
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    Form 16 is made of 2 parts. Part B is Tax Due calculation part only. Does not say anything about Tax paid part.
    Part B can be issued by seperately by employers or totally by the last employer. It does not make any difference.

    But Part A is receipt for TDS recovered. i.e. if you pay donation, you get receipt from the receiver. same way 16A can be issued only by receiver / actual employer and the same will be displayed in 26AS which will show 2 employers. If it is not displayed then you have to approach that employer. If the employer does not take action you can contact ITD (assessing officer) who will fine the employer with Rs.200 per day delay.

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