What is a Form 16?

Form 16

About Form 16

What is a Form 16?

Form 16 is an income tax form used by firms to give their employees information on the tax deducted. Form 16 is considered as the proof filing of income tax returns by your employer to the government. For example, if your income is more than the tax exemption limit, then the employer is required to deduct TDS on your salary and submit it to the government. If your salary income is less than the tax exemption limit, then in that case the employer will not deduct any TDS. When the employer provides the Form 16, it means that your employer has filed your income tax returns. The form can also be considered as your salary TDS certificate.
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Simply, the Form 16 certifies how much an employee has earned during a financial year and how much has been deducted as TDS. The form has two parts — Part A and Part B.
The part A consists of PAN, TAN details, name, address, TDS deducted and other details of the employee and employer.
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The part B consists of details such as other incomes, deductions, tax payable, salary paid, etc. The form is generally issued by the employer every year on or before 15th June.
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What are the components of Form 16?

? Refunds or balance of taxes payable
? TAN, PAN details of the employer
? Details of tax payment
? Personal details of the employee
? Taxes deducted according to section 191A
? Salary details
? TDS receipt
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Part A of Form 16

Part A is issued by the employer.
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? PAN and TAN of employer
? PAN details of employee
? Employer name and address
? Tax deducted and deposited quarterly
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Part B of Form 16

? Part B is an annexure to Part A
? Relief under section 89
? Detailed breakup of salary
? Deductions allowed under I-T Act

Latest Updates on Form 16

SpiceJet deposits Rs 100 cr TDS for FY23, employees to get Form-16s soon

2 min read Last Updated :Jan 31 2024 | 5:43 PM IST
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Filing tax return at the last minute: What to do and what to avoid

7 min read Last Updated :Jul 30 2023 | 9:21 PM IST
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Filing ITR? Don't forget to declare your income from other sources

7 min read Last Updated :Jul 19 2023 | 8:21 AM IST
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Common ITR form will make tax-filing easier, reduce time taken, say experts

3 min read Last Updated :Nov 02 2022 | 3:21 PM IST
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SpiceJet deposits TDS, Form 16 to be issued to staff in a fortnight

1 min read Last Updated :Oct 07 2022 | 6:20 PM IST
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How to file ITR-2 online with salary income, capital gains for FY22

7 min read Last Updated :Jul 17 2022 | 9:35 PM IST
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ITR: 5 common mistakes you should avoid while filing your income tax return

3 min read Last Updated :Jul 13 2022 | 9:54 AM IST
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Five key benefits of filing your income tax return by the due date

2 min read Last Updated :Jul 12 2022 | 5:02 PM IST
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Explained: What is Form 26AS and why is it important for filing ITR

3 min read Last Updated :Jul 12 2022 | 6:00 AM IST
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Have Form 16 from two employers? Be careful not to claim tax benefits twice

4 min read Last Updated :Jun 29 2022 | 11:27 PM IST
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Missed declaring rental to employer? Claim HRA exemption while filing ITR

4 min read Last Updated :Jun 27 2022 | 11:39 PM IST
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ITR 2022-23: How to fill your income tax return for this assessment year?

3 min read Last Updated :Jun 23 2022 | 4:09 PM IST
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Compare Form 16 with 26AS before filing income-tax return: Experts

4 min read Last Updated :Jun 16 2022 | 10:32 PM IST
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46.4 million income tax returns filed amid portal glitch complaints

2 min read Last Updated :Dec 27 2021 | 11:17 PM IST
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Volume IconWhat is Form 16? | Everything about Form-16: Decoded

5 min read Last Updated :Sep 27 2021 | 10:22 AM IST
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Haven't been issued Form 16? Here is how you can still file your tax return

7 min read Last Updated :Jul 18 2021 | 7:25 PM IST
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Rectifying mismatch between 26AS, Form 16 crucial before filing returns

4 min read Last Updated :Jun 22 2021 | 6:10 AM IST
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Income Tax department extends five new deadlines for Indian taxpayers

4 min read Last Updated :Jul 01 2020 | 11:16 PM IST
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Form 16 exemption claims: Keep documents handy as there could be queries

3 min read Last Updated :Apr 18 2019 | 12:23 AM IST
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Income Tax dept revises Form 16: Here's all you need to know

3 min read Last Updated :Apr 17 2019 | 11:52 AM IST
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