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Ramesh Sharma
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Enlightened
Asked: 2021-08-03T22:23:06+05:30 In:

What is Form 16?

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What is Form 16?
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    1. Enlightened Chartered Accountant

      This Form 16 is a certificate, wherein the employer certifies details of the salary earned by the employee during the year and how much TDS has been deducted on that employee. It has two parts – Part A and Part B. Part A has information of the employer & employee, like name & address, PAN anRead more

      This Form 16 is a certificate, wherein the employer certifies details of the salary earned by the employee during the year and how much TDS has been deducted on that employee. It has two parts – Part A and Part B.

      • Part A has information of the employer & employee, like name & address, PAN and TAN details, the period of employment, details of TDS deducted & deposited with the government.
      • Part B includes details of salary paid, Prerequisites, other incomes, deductions allowed, tax payable, etc.

      In simple words, it is an acknowledgment which states that how much TDS was deducted from your salary and When it was deposited with the Income Tax department. Generally, It is issued by 15th June of the year for which it is being issued but, the due date stands extended to 15 August 2020.

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