What is Form 16? It is a certificate issued under Section 203 of the Income Tax Act Contains details of salary paid, TDS deducted, and deposited Helps employees file their Income Tax Returns (ITR) easily
🧾 Components of Form 16
| Part | Details Included |
|---|---|
| Part A | Employer and employee details, TDS deducted & deposited quarterly |
| Part B | Salary breakup, exemptions, deductions (Section 80C, 80D, etc.), tax calculation |
Employers must issue Form 16 on or before 15th June following the financial year
Usually issued annually after TDS is finalized for the year
Proof of income and tax deducted for employees
Used to file Income Tax Return (ITR)
Helps avoid notices from the Income Tax Department regarding non-payment of tax
Collect Form 16 from your employer after the financial year ends
Check details of salary, TDS, deductions, and exemptions
Use the information to fill your Income Tax Return (usually ITR-1 or ITR-2)
Attach Form 16 if submitting physical return (for employers or professionals)
