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Question: Income Tax Liability
Answer: If the declarations provided during the financial year and employee not provding the proof during the financial year ending- how should the tax liability be calculated. is it employer's duty to pay the enitre tax or the employer can issue the Form16 stating that tax is due? |
| June 06, 2008 00:04:48 |
#2 |
| chintamani |
Member Since: June 2008 Total Comments: 7 |
RE: Income Tax Liability
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If employee miss to submit the proofs to employer for his tax computation, employer will compute employees tax as per actual proofs.
Employer will issue Form 16 to employee. This form 16 shows detailed tax computation of an employee for current financial year.
If any tax refund is there for employee, employer will mention the same in employee(s) form 16.
As per sec 192 of IT Act if any tax is to be refunded the same has to be collected it from IT department. Employer is not at all responsible for the same.
Employer is not @ all responsible for employee(s) tax. |
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