Form 16 For Salaried Employees

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Dear readers, here we are offering Form 16 For Salaried Employees PDF to all of you. As per the rule Form 16 is a certificate issued to salaried individuals from their employer when he deducts tax from the employee salary. You can also say that Form – 16 is an acknowledgment that states your deducted tax has been deposited with the Income Tax department.

An employer deducting tax or TDS on the salary paid to an employee issues Form 16 to the employee and Form 16A is issued quarterly. The due date is the 15th of the month following the due date for quarterly TDS return. It is very useful for the salaried employees and you can get it here easily.

Download Form 16 for Salaried Employees PDF – Part A

Part A of Form 16 provides details of TDS deducted and deposited quarterly details of PAN and TAN of the employer and other information.
An employer can generate and download this part of Form 16 through the TRACES (https://www.tdscpc.gov.in/app/login.xhtml) portal. Before issuing the certificate, the employer should authenticate its contents.
It is important to note that if you change your job in one financial year, each employer will issue a separate Part A of Form 16 for the period of employment. Some of the components of Part A are:

  • Name and address of the employer
  • TAN and PAN of employer
  • PAN of the employee
  • Summary of tax deducted and deposited quarterly, which is certified by the employer

Download Form 16 for Salaried Employees PDF – Part B

Part B of Form 16 is an Annexure to Part A. Part B is to be prepared by the employer for its employees and contains details of the breakup of salary and deductions approved under Chapter VI-A.
If you change your job in one financial year, you should take Form 16 from both employers. Some of the components of Part B notified newly are:

  • Detailed breakup of salary
  • Detailed breakup of exempted allowances under Section 10
  • Deductions allowed under the Income Tax Act (under chapter VIA):
    The list of deductions mentioned are as below:

    • Deduction for life insurance premium paid, contribution to PPF etc., under Section 80C
    • Deduction for contribution to pension funds under Section 80CCC
    • Deduction for employee’s contribution to a pension scheme under Section 80CCD(1)
    • Deduction for taxpayer’s self contribution to a notified pension scheme under Section 80CCD(1B)
    • Deduction for employer’s contribution to a pension scheme under Section 80CCD(2)
    • Deduction for health insurance premium paid under Section 80D
    • Deduction for interest paid on loan taken for higher education under Section 80E
    • Deduction for donations made under Section 80G
    • Deduction for interest income on savings account under Section 80TTA
  • Relief under Section 89

Details required from Form 16 while filing your return

With reference to the image below, here is where you can locate certain information for filing your income tax return for FY 2020-21 (AY 2021-22).

  • Allowances exempt under Section 10
  • Break up of deductions under Section 16
  • Taxable salary
  • Income (or admissible loss) from house property reported by an employee and offered for TDS
  • Income under the head ‘Other Sources’ offered for TDS
  • Break up of Section 80C deductions
  • The aggregate of Section 80C deductions (gross and deductible amount)
  • Tax payable or refund due

You can download Form 16 For Salaried Employees PDF by clicking on the following download button.

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