This Form 16 is a certificate in which the employer confirms details about the salary you earned during the year and how much TDS was deducted. It consists of two parts – part A and part B. You can see the summary of 16 forms you have downloaded. The TDS certificate on Form 16 is issued when TDS has been deducted. If the employer has not deducted an SST, they may not give you Form 16. Please refer to our guide to electronic filing without Form 16 Form 16 for the information you need to prepare and file your tax return. It shows the breakdown of salary income and the amount of the SDT deducted by the employer. It consists of two components – Part A and Part B (explained in detail below). Employers must inform them each year by September 15. June of the following year immediately after the fiscal year in which the tax is deducted. If you lose your Form 16, you can request a duplicate from your employer.
The new amendments to Form 16 – Part B have been notified by the Income Tax Division. We have updated the following section in accordance with the changes that have applied to Form 16, Part B, since fiscal year 2018-19. Read here to learn more. It shows your name (taxpayer), address and PAN. You can also find additional information from your employer on your Form 16 when you file your annual tax return, for example: After downloading this Excel file, you can now proceed with the preparation of your Form 16. With respect to the image below, here is some information for filing your tax return for the 2020-21 fiscal year (YY 2021-22). Check out our Guide to Form-16 to understand what details go where. Click „Download Form 16 PDF” if you have Form 16 in PDF format, or click „Continue Here” in the case of Paper Form 16. Form 16 is a certificate issued to employees by their employer when they deduct tax from the employee`s salary.
Simply put, this is a confirmation that your deducted tax has been filed with the income tax department. It must be issued no later than 15 June of the year for which it is issued. For example, for F.Y. 2019-20, June 15, 2020 is the deadline for the issuance of Form 16. However, the expiry date will be extended to August 15, 2020. Even if you have both Part A and Part B PDF files, you can simply upload them to TaxCloud and the software will merge the files and give you a combined PDF for each employee. Step 3 Fill in all the personal information and address range. Anyone responsible for paying a salary must deduct TDS before making the payment. The Income Tax Act states that any person who deducts TDS from a payment must provide a certificate with the details deducted and filed by TDS. A specific employer is required to provide a certificate in the form of Form 16. However, this does not apply to Form 16.
The details of Form 16 available on Form 26AS are only deducted by the employer. Both forms are important and are necessary for you to submit your return smoothly. You can also check the details of the income and how much TDS was deducted and at what rates. Step 8 Next, go to Deductions and enter the amount in the field. Refer to your Form 16 for this information in Part B. While this is one of the most important forms of income tax, don`t worry if you don`t have them. You can still file your tax return. Click here to learn more. Simply download the provided Excel form 16 template and enter each employee`s salary details.
Just download the file and we will import all the details for you. Our software automatically takes all the relevant information from your Form 16 and creates your tax return. You don`t have to enter anything manually. Step 3: Choose the file name format and generate Form-16: Click „Next” and choose the file name format and finally click „Generate” to generate the Form-16. Enter the name of the company and select „Company Logo” that you want to reproduce in Form 16. You can use the income and SST data on Forms 16 and 16A to file your tax return and calculate and pay your taxes. Step 4 After completing the Personal Information section, enter the following information on the salary information page by viewing your first Form 16, Part A. Step 1 Go to www.cleartax.in and click on „Start Tax Return” Step 2: Select the template for coverage: Go to the next page and select the desired cover page template. Part A of Form 16 contains details on the TDS deducted and filed quarterly on the employer`s NAP and TAN and other information. An employer can generate and download this part of Form 16 via the TRACES portal (www.tdscpc.gov.in/app/login.xhtml).