What are the proof of income? My offer cum appointment letter includes details of salary and income gets deposited in bank. Kindly help me out. Will i get a good job with this letter?
From India, Bangalore
From India, Bangalore
421
Hello Roshni,
Appt. Letter in solo is not a proof but an indication of your income. But yes, appointment letter along with your bank statement can be considered as a proof since the bank statement verifies the amount of compensation being paid to you against what is presented in the appointment letter. However, an ideal combination which most of the employers find it easy to verify is your salary slip and bank statement as it gives the exact amount being paid to you every month.
Further, 26AS is an document which will also find a mention of all the remuneration being paid to you by your employer. You will be able to see this document by opening your online account with the income tax website. Secondly, your employer will issue you Form 16 at the end of the financial year specifying the total remuneration being paid out to you in that year, which will clearly indicate your total income, your taxable income, tax deducted and deposited with the Income Tax, etc.
Hope your queries are answered.
Good Luck.
Cheers, A.B.
From India, Mumbai
Appt. Letter in solo is not a proof but an indication of your income. But yes, appointment letter along with your bank statement can be considered as a proof since the bank statement verifies the amount of compensation being paid to you against what is presented in the appointment letter. However, an ideal combination which most of the employers find it easy to verify is your salary slip and bank statement as it gives the exact amount being paid to you every month.
Further, 26AS is an document which will also find a mention of all the remuneration being paid to you by your employer. You will be able to see this document by opening your online account with the income tax website. Secondly, your employer will issue you Form 16 at the end of the financial year specifying the total remuneration being paid out to you in that year, which will clearly indicate your total income, your taxable income, tax deducted and deposited with the Income Tax, etc.
Hope your queries are answered.
Good Luck.
Cheers, A.B.
From India, Mumbai
Best proof of income is your Income Tax return. Government document with a declaration of authenticity and backed by financial transactions of tax deposit etc.
Apart from that, what works depends on the specific situation. In some cases, even appointment letter with salary details may work.
From India, Delhi
Apart from that, what works depends on the specific situation. In some cases, even appointment letter with salary details may work.
From India, Delhi
Hi,
Actual proof of Income is pay slip, which include FORM 16 provided to employee by employer. Pay Slip, solo is not strong evidence of proof of Income. Appointment letter is never proof of Income.
Bank statement, indicating credit of salary in your account is considered as an evidence of Income, under Indian Evidence Act. But still I would suggest, form 16 is far better , only strong evidence of Income.
************************************************** ************************************************** ************************************************** **********************************************
THIS IS IF YOU HAVE OTHER SOURCE OF INCOME APART FROM SALARY:
CASE 1
If apart from service you have other source of Income, then under Income Tax Act,1961 clubbing of income is mandate(To get taxable Income). Then if you file income tax separately under self assessment scheme or filed by a CA/CS/CWA on your behalf, what I mean to say your employer does to perform Tax deduction at source, then such form provided by Income Tax Authority, ratified by seal of CA/CS/CWA can be considered as your Source of Income.
CASE 2:
Your employer goes of Tax Deduction at source, then form 16 is best proof of Income. Now, if you file return of Income Tax, for Tax deducted by employer & to avoid 'DOUBLE TAXATION', then such form of return, along with Tax filing documents should be considered as Income Certificate. Procedure will be close to case 1.
Eg of other sources of Income:
1. Income under the head, House Rent or property rent.
2. Income from Business or profession.
3. Income from other sources.
************************************************** ************************************************** ************************************************** **********************************************
Hope your problem is solved.
Thanks & Regards
Sovik B
From India, Mumbai
Actual proof of Income is pay slip, which include FORM 16 provided to employee by employer. Pay Slip, solo is not strong evidence of proof of Income. Appointment letter is never proof of Income.
Bank statement, indicating credit of salary in your account is considered as an evidence of Income, under Indian Evidence Act. But still I would suggest, form 16 is far better , only strong evidence of Income.
************************************************** ************************************************** ************************************************** **********************************************
THIS IS IF YOU HAVE OTHER SOURCE OF INCOME APART FROM SALARY:
CASE 1
If apart from service you have other source of Income, then under Income Tax Act,1961 clubbing of income is mandate(To get taxable Income). Then if you file income tax separately under self assessment scheme or filed by a CA/CS/CWA on your behalf, what I mean to say your employer does to perform Tax deduction at source, then such form provided by Income Tax Authority, ratified by seal of CA/CS/CWA can be considered as your Source of Income.
CASE 2:
Your employer goes of Tax Deduction at source, then form 16 is best proof of Income. Now, if you file return of Income Tax, for Tax deducted by employer & to avoid 'DOUBLE TAXATION', then such form of return, along with Tax filing documents should be considered as Income Certificate. Procedure will be close to case 1.
Eg of other sources of Income:
1. Income under the head, House Rent or property rent.
2. Income from Business or profession.
3. Income from other sources.
************************************************** ************************************************** ************************************************** **********************************************
Hope your problem is solved.
Thanks & Regards
Sovik B
From India, Mumbai
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