Understanding Form 16 & Its Components
shared by prabodhan.patil on Jul 10
36
views
0
faves
0
comments
Form 16 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.
Source
https://www....orm16.aspxCategory
EconomyGet a Quote