General Trading Chat

[timepass]

Form 16 contains the details of your earnings from salary and TDS deducted by your employer.

Ok, so that's for salaried people. So the self-employed don't need it ?

 

[vagar11]

but if you make money then we will run after you for taxes ...
double standard ...

I think govt is interfering with the deposit and withdrawl on crypto sites. Most of the sites have stopped withdrawl and deposit.
1335 crore trading happened in one currency ripple in 1 day on koinex site. Volumes are quite high and comparable with equities volume.

 

[candle]

Ok, so that's for salaried people. So the self-employed don't need it ?

Form 16 is provided by the Employer of the Salaried employee. Where did a self employed person get his salary from?? So he won't get a form 16.

 

[LOVEENAJYOTHI]

https://m.economictimes.com/markets...expid=.0_OyxuZnTFSZGUuoEBqhFQ.0&utm_referrer=

 

[LOVEENAJYOTHI]

Ok, so that's for salaried people. So the self-employed don't need it ?

When "A" makes a payment to "B", the Income Tax Department mandates that a portion of the total payment for "B" be deducted by "A" and paid to the Income Tax Department directly.

This is called "Tax Deducted at Source", or TDS. Since "A" is deducting part of the payment, "A" is called the Deductor and "B", the Deductee.

Whenever such deductions are made, the deductor makes the payment to the Income Tax Department and issues a "TDS Certificate".

Form 16 (if Deductible Payment is in the nature of Salary)
Form 16A (If Deductible Payments are in the nature of other than Salary)
are TDS Certificates certifying the amount of TDS, Nature of Payments and the TDS Payments deposited with the Income Tax Department.

Form 16-As are issued when TDS is deducted from non-Salary Payments like Professional fees, Rent, Bank Interest Contract Payment etc. (List is huge)

These TDS deductions are accompanied by a form16 or 16A, as applicable, as an evidence of Remittance of Income Tax by the Deductor on behalf of the Deductee.

If your PAN is registered on the IncomeTax website, you can generate your TDS certificates, Forms16 and/or 16A, if any, from the provided Links subject to that your Deductor has promptly remitted tax n filed mandatory Monthly/Qrtrly/Annual Returns on his side .

 

[timepass]

Maybe BankIndia will have achche din in coming days. It's been down on its knees for a few days now, but not significantly below 170 level.

Bank of India gets Rs 2,257 crore from government

 

[wisp]

Hi all, does any one have further info on Aadhar linkage to Bank account. Today I tried to link, but cancelled because HDFC message says that by linking Aadhar HDFC gets the right of access to finger prints and other bioinformatics, why is this so? Has everybody here linked aadhar to bank account?

 

[vivektrader]

Hi all, does any one have further info on Aadhar linkage to Bank account. Today I tried to link, but cancelled because HDFC message says that by linking Aadhar HDFC gets the right of access to finger prints and other bioinformatics, why is this so? Has everybody here linked aadhar to bank account?

First go to Aadhar site to uidai.gov.in to lock your biometrics, then go to your bank site to agree to anything (it won't matter), this should allay your privacy concerns.

Vivek

 

[cloudTrader]

Hi all, does any one have further info on Aadhar linkage to Bank account. Today I tried to link, but cancelled because HDFC message says that by linking Aadhar HDFC gets the right of access to finger prints and other bioinformatics, why is this so? Has everybody here linked aadhar to bank account?

I too have linked my Aadhaar with HDFC , ICICI , the message is displayed in this manner as it is mandatory for institutions to declare the access to the Biometrics data. Even if you will apply for PAN online then NSDL will display same message. It has been done to seek the approval of the person who is allowing to access the data. The big thing is that as just meager citizens with no absolute rights of privacy what else can we do but share the details for bypassing the trouble.

 

[cloudTrader]

First go to Aadhar site to uidai.gov.in to lock your biometrics, then go to your bank site to agree to anything (it won't matter), this should allay your privacy concerns.

Vivek

Did you try this , as the information if not shared with them , then the approval of linking will come in pending state, what I have heard from some other people. I therefore did not try this method.