is a certificate of deduction of Income Tax
at source that is issued to salaried individuals
in India by their respective employers. Form 16 is provided to you by your employer
and is used as proof of TDS while filing Income Tax Returns
. Traditionally speaking
Form 16 is a salary certificate issued by employers to employees and certain employers
issue it even when there is no TDS on salary of the employee.
Form 16 is divided in 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.
I hope you found this useful. If you have any further questions on this topic, please
feel free to ask us using #AskBlock
Click here to download Form 16 Generator