Form 16 is a certificate or a document that is issued to salaried personnel
in India by their respective employers. The certificate carries necessary details
that assist in the process of filing Tax Returns. Form 16 is provided by an Employer
to the Employee and is used by the employee as reference as well as proof while
filing Income Tax Returns. The Form furnishes various details such as Salary Income
components of the Employee, Tax Deducted at Source (TDS) by the Employer, and Tax
paid by the Employer to the Income Tax Department.
Form 16 is also known as the salary certificate as it is issued by employers even
when there is no TDS on the salary of the employee.
Form 16 is divided into two parts. Part A and Part B.
Part A is the certificate of TDS. Hence Form 16 becomes a proof of the TDS deducted
by the employer from salary of the employee and paid into the government account.
Part B is annexure containing details of salary paid, other income, tax due and
tax paid. This is a complete detailed record of salary and related deductions and
exemptions computed in a step by step manner.
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