ITR filing

Form 16

TMS Ep7

income-tax, tax filing, e-filing, tax portal, online, digital, income tax, I-T returns

chart

direct taxes, taxes, advance tax

Chart

income tax, I-T dept, ITR

Prove that you tried to find a tenant for empty second house or pay tax

form 16, income tax

<div>
	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.</div>
<div>
	&nbsp;</div>
<div>
	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 &mdash; Part A and Part B.</div>

<div>
	The part A consists of PAN, TAN details, name, address, TDS deducted and other details of the employee and employer.</div>
<div>
	&nbsp;</div>
<div>
	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.</div>
<div>
	&nbsp;</div>
<h4>
	<strong>What are the components of Form 16?</strong></h4>
<div>
	&bull; Refunds or balance of taxes payable</div>
<div>
	&bull; TAN, PAN details of the employer</div>
<div>
	&bull; Details of tax payment</div>
<div>
	&bull; Personal details of the employee</div>
<div>
	&bull; Taxes deducted according to section 191A</div>
<div>
	&bull; Salary details</div>
<div>
	&bull; TDS receipt</div>
<div>
	&nbsp;</div>
<h4>
	<strong>Part A of Form 16</strong></h4>
<div>
	Part A is issued by the employer.</div>
<div>
	&nbsp;</div>
<div>
	&bull; PAN and TAN of employer</div>
<div>
	&bull; PAN details of employee</div>
<div>
	&bull; Employer name and address</div>
<div>
	&bull; Tax deducted and deposited quarterly</div>
<div>
	&nbsp;</div>
<h4>
	<strong>Part B of Form 16</strong></h4>
<div>
	&bull; Part B is an annexure to Part A</div>
<div>
	&bull; Relief under section 89</div>
<div>
	&bull; Detailed breakup of salary</div>
<div>
	&bull; Deductions allowed under I-T Act</div>

Form 16 - Know everything about Form 16 and its components with the latest updates if any. Also, know the difference in form 16A and form 16B.

Page 2 - Latest Updates on Form 16

46.4 million income tax returns filed amid portal glitch complaints

What is Form 16? | Everything about Form-16: Decoded

Haven't been issued Form 16? Here is how you can still file your tax return

Rectifying mismatch between 26AS, Form 16 crucial before filing returns

Income Tax department extends five new deadlines for Indian taxpayers

Form 16 exemption claims: Keep documents handy as there could be queries

Income Tax dept revises Form 16: Here's all you need to know