Here's how the new Form 16 will change income tax return filing this year

Under the new format, Part B has been amended to provide more details about the allowances exempt under section 10 and deductions allowed under Chapter VI-A of the Act i.e. section 80C to 80U

Form 16 is issued annually, by an employer to an employee as a proof of salary paid and taxes deducted on it. It has two parts i.e., Part A and Part B as discussed below.

Tax returns of the salaried taxpayers for FY 2018-19 (AY 2019-20) can be filed in form ITR-1 or ITR-2. The details of income from salary, allowances exempt, deductions claimed, are in Part B of Form 16, while Part A contains the employer, employee and employment details such as PAN, address etc.

The Central Board of Direct Taxes (CBDT) has notified certain changes in Form 16.