FORM 16 - Is it compulsary that the Form 16 (issued by my emp.) to contain all Dedct. permissible by 80 C?

Question

I have made investement under LIC, mutual funds, etc for tax deduction under 80 C section. I left the company I was employed and moved abroad.

The employer deducted TDS without considering the investements made by me under 80 C. I forgot to give them details on this inv. for including in Form 16. Can I get refund still from IT dept. during filing my returns even if these details are not found in FOrm16. (copy of my investments will be attached for filing return) or is it mandatory for the employer to include this in the FORM 16?

Thanks in advance

Answer 1

You are eligible to get refund. You file your return properly with the details of 80 C  claim.  then it enable to IT department to refund the excess deduction.

Answer 2

Hi dude,

You can still claim for refund from IT dept. during filing your returns even if these details are not found in Form16, but please do not forget to remind your CA while filing.. Thanks

Answer 3

yes, u can shopw all these investments on the return u will file and get the rebate. u can get the refund of excess tax paid.Yes, it is mandatory for the employer to take into consideration all items in which u have invested under section 80 C, BUT it is YOUR duty to give the proof of investments to your employer. Your employers cant dream of what all u have invested. if u have forgotten to give correct and full information to your employers it is your fault and not your employers.

Answer 4

Employer is right. They must issue TDS based on 80C deduction receipts actually provided to them by you.

Now when you file your tax return, you will deduct allowed 80C deduction you have invested. You will get a tax refund. For forms http://mytaxes.in/index.php?topic=32.0

The tax returns must be filed without any attachments even you don't attach TDS form. It is clearly written on the instructions. Income Tax Department has all your record.

Forum on India Taxes http;//www.mytaxes.in

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Answer 5

You can claim the deductions under 80 C during filing of your i.t. returns even if it is not mentioned in your Form-16.

Pls. attach the copies of your investments along with your form 16

Answer 6

File your return through CA & get refund if any.

Answer 7

Good news...  you will still be eligible for the benefits on investments made under section 80 C in case your employer has not included it in Form 16.

Do submit a photocopy of your investment receipts (for which exemptions have been claimed) along with Income tax return at the time of filing Saral

Cheers,

Rinaldo, CA