Are indian companies paying our tax?

[stubby1]

Dear all

I want to know if your airline is collecting & more importantly depositing tax with the income tax deptt ?

If it is done, then do you get form16?

If not what is our liability vis a vis income tax?

:eek:

[Aeronotix]

The liability to cut tax at source (TDS) is the employers. This computation of deduction is reflected in a pilots monthly salary slip. At the end of the financial year, which is March 31st, the company has to generate form 16 which shows the monthly deduction as well as the tax deposited with IT from time to time during that financial year.

It is given to the employee latest by June so that the same can be filed in original, along with your returns for that particular assessment year with the Income Tax department by July 15th of every year.

Hope this clears your query.

Aeronotix

[stubby1]

Friend of mine in a prominent indian company has not got f-16 for some years now, also the income tax site does not show tax paid( the co. has collected the due tax and apparently not deposited)

frightening.