What is the process to get duplicate copy of form 16 from income tax department?
I lost my form 16 and previous employer is not giving a duplicate copy.How can i appy a duplicate copy of form 16 from income tax department?
Form 16 will be available from the employer. You cannot apply to the Income tax dept. to obtain it. You can request your employer to obtain a duplicate copy
How to factor into income tax the loss incurred on share market.?
My income tax liability by end of FY09-10 will be about Rs 100000. During this stock downfall, I incurred a total loss of Rs 20000 due to sale of shares. Does this mean I should be paying a tax of 80K and not 100K ?
If you are treating your loss as business loss, then you can deduct Rs.20,000 from Rs.1,00,000. If you are treating the loss as capital gains loss, then you cannot set of the loss Rs.20,000. In any case, if your income is just 1,00,000 for the FY:09-10, your income is below taxable and no need to pay income tax. ( Rs.1,60,000 is tax free income for Male)
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