Form 16 Download
Form 16 is a document or certificate, issued as per Section 203 – Income-Tax Act 1961, to salaried professionals in India by their respective employers. Also, referred to as a “salary certificate”, it contains the entire details regarding the salary given by the organization or employer to the employee in a particular financial year and the income tax that has been removed from the salary of the individual by the payer.
Details to be Mentioned in Form 16 A
- Personal information of the employer as well as the employee. Particulars such as the individual and employer’s name, address details, PAN details of both an employer’s TAN details.
- The Assessment Year (AY)
- The time period for which the individual was employed with the employer in the concerned Financial Year
- Summary of the salary paid
- Date of tax deduction from the salary
- Date of tax deposit in the account of the government
- Summary of tax deducted & deposited quarterly with the Income Tax Department
- Acknowledgment Number of the TDS Payment
This part is generated and downloaded through the Traces portal of the Income Tax department. It also provides details such as Bank’s BSR code through which the payments are done, challan numbers, etc. for future reference. All the pages of Part A should be digitally or manually signed by the deductor.
Details to be Mentioned in Form 16 B
Part B is a consolidated statement covering details regarding salary paid, any other income as disclosed by the employee to his/her organization, amount of tax paid, and tax due if any. Employee details such as name and PAN are mentioned even in Part B.
It contains the following information :
- Total Salary Received: Salary structure is further broken down into various components such as House Rent Allowance, Leave Travel Allowance, Leave Encashment, Gratuity and others.
- Exemptions Allowed: As per Sec (10) of the Income Tax Act, 1961 such as allowances given to employees for Conveyance, housing rent (HRA), Children education and hostel expenditure, medical, etc. are also mentioned in the form.
- Gross Income: This is the sum of the salary income as received from the employer and any other income declared by the employee such as income earned from house/property etc. Details regarding other income need to be shared by the employee with the employer during the phase of investment proof submission.
- Deductions From Salary: Section 80 C / 80 CCC / 80 CCD includes contributions made towards instruments or schemes such as Public Provident Fund, Life Insurance policies, tax saving mutual funds, pension, Sukanya Samriddhi among others.
- Deductions under other sections such as 80D (premium paid towards health insurance or Mediclaim), 80E (interest payment on education loan), 80G (donations), deductions for disability and other applicable sections are provided. The details for all these deductions need to be submitted by the employee along with the necessary supporting documents to the employer.
- Net Taxable Salary: Total deductions are aggregated under “Chapter IV-A” and reduced from the gross income to calculate the taxable income. Your tax liability is calculated on this amount.
- Education Cess and surcharges if any
- Rebate under Section 87, if applicable
- Relief under Section 89, if any
- Total amount of tax payable on income
- Tax deducted and the balance tax due or refund applicable
Form 16/ 16A Download – Online Procedure
Form 16/ 16A is the certificate of deduction of tax at source and issued on deduction of tax by the employer on behalf of the employees. These certificates provide details of TDS / TCS for various transactions between deductor and deductee. It is mandatory to issue these certificates to Tax Payers.
Deductor logs in to TRACES. – Online Login Link
Go to the Downloads tab.
Select Form 16/16A.
Enter the details and click on go
