Brief of Form 16

Meaning: this is a TDS certificate and issued by employer in behalf of employees, and it is details of employee Payment and Deduction made in a financial year under his/her employment.

Why we generate Form 16 ?

Ans. It is certificate proof that employer pay TDS to income tax department in behalf of employee, which was deducted from his/her salary.

Parts:
There are two part of form 16:
1. Part A
2. Part B

1. Part A- under this part shows the details of employer like
a. Name and address of employer
b. TAN of employer
c. PAN of employer
d. summary of Tax deducted and deposited quarterly.
e. it is generated from Trace ID,

2. Part B- Under this part shows the details of salary of employee
a. salary break up of employee
b. Deduction approved under Chapter VI

Brief of Form 16

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