Form 16

Bharat Arora (Querist) 07 July 2012 This query is : Resolved
Dear Sir guide me If one have resigned from a company in Fy 2010-11 and got his FFS & PPF in FY 2011-12 due some delay at employee end then my question are:
1. form 16 will be issued for 2011-12 or not
2. if issued under what section and provisions
3. time line for issuing the same if issued.
4. penal at employer end under IT act if any for not issuing the same
regards
Bharat Arora

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Guest (Expert) 07 July 2012
Have you deducted any TDS from the dues of the employee during 2011-12?

Bharat Arora (Querist) 09 July 2012
No, no TDS deducted from the FFS dues in F.Y. 2011-12.

Guest (Expert) 09 July 2012
No liability, if no TDS becames due or deducted from FFS.

Bharat Arora (Querist) 11 July 2012
Then employee will shows the income in his account from which head other income or salary in his ITR.
Also the PPF has been released by Co. so will this be taken in gross income and deduction is admissible against full amount(app-40k). or not taken. Please clear the same.
regards
Bharat arora

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