What will happen if Form 16 is not submitted?

In case an employer fails to provide you with a Form 16 after having deducted TDS – the minimum penalty that the employer will pay is Rs 100 for every day the default continues.

What happens if I don’t declare previous employer income?

If you don’t disclose your salary income incurred from previous employers to current organization, then tax will be calculated based on the current salary income earned from present company.

Is it mandatory to issue Form 16 to all employees?

Are you still wondering if Form 16 is mandatory? Well, if you’re an employer, it is compulsory for you to issue Form 16 to the employee. While you can file your ITR without Form 16, you may be required to furnish it to the Income Tax Department in case of anomalies, or discrepancies found in your returns.

Is it mandatory to declare previous employer income?

The main purpose of the form is to furnish details of the income earned by the individual from the previous employer. Every new employee has to submit Form 12b to their new employer. Furnishing Form 12b is not compulsory.

How can I get Form 16 for salaried employees?

Go to ‘System Settings’, then to ‘Income Tax’ and then to ‘Form 16 Options’. You will be redirected to the ‘Form 16 Options’ page. Type the location in the ‘Digital Signature’ box where it’ asked to enter the credentials of the person responsible for form 16 section is.

When will Infosys provide form 16 to its employees?

As per the rules in place by the Income Tax Department in India, it’s imperative for all employers to provide their respective employees with Form 16’s of every completed financial year, by the 31st of May in the same year. Infosys, makes it a point to provide the same within the deadline and usually does so in the last 2 weeks of May.

Do I have to submit Form 16 with my new employer?

Yes, you have to. Most of the employees, don’t submit their new employer the form 16 obtained from previous employer in wake of secrecy or confidentiality, this will effect your taxes and the time of filing your income Tax return , you realize that there’s an excess tax payment to be made. Why submit your form 16?

Can a candidate coming from a small company get rejected from Infosys?

A candidate coming from a small company dont have the salary statement. In that case Infosys can’t reject those people. I feel it would not happen to any one who are dreaming to enter into Infosys (so called a great company for it standards and morals)

What are the documents that are missing from Infosys?

Documents like Offer Letter, PF statement. After all the documents submitted I again got call from infosys that some documents are missing form your submission stating that provide us the neutral documents (Form 16 or Salary Statement). Here I faced problem like my initial company didn’t provide me the salary account for the first 15 months.