Get the free FORM NO. 16 - Indiataxes.com

FORM NO. 16 See rule 31(1)(a) Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source from income chargeable under the head Salaries”. Name and Address of the Employer

How to fill out form no 16

How to fill out Form No 16:

1. Obtain the Form: Form No 16 is a document issued by the employer, which provides details of the salary received by an employee during a financial year and the amount of tax deducted at source (TDS). Get a copy of Form No 16 from your employer.
2. Verify the Details: Check if all the personal information, such as your name, PAN (Permanent Account Number), and address, mentioned in the Form No 16 is accurate. If there are any discrepancies, inform your employer immediately for necessary corrections.
3. Review Part A: Part A of Form No 16 includes details of the employer and employee, such as their names, addresses, and PANs. Ensure that all the information provided is correct.
4. Check Part B: Part B of Form No 16 comprises details related to salary, deductions, and exemptions. Verify that the salary mentioned is accurate, including the gross salary, exemptions under various sections of the Income Tax Act, and deductions. Pay attention to allowances, perquisites, and deductions related to Provident Fund, National Pension Scheme, or any other deductions applicable to you.
5. TDS Information: Part B also contains information about TDS. Verify if the TDS deducted by your employer matches the TDS reflected in your Form 26AS, which is an annual statement of your TDS. Ensure that your employer has issued a TDS certificate for the TDS deducted.
6. Preserve the Form: Once you have reviewed and confirmed all the details in Form No 16, keep it safely as it will be necessary while filing your income tax return.

Who needs Form No 16?

1. Salaried Employees: Form No 16 is primarily required by salaried employees. It serves as a proof of their income during the financial year and the tax deducted on their behalf.
2. Income Tax Return Filing: If you are a salaried employee and need to file an income tax return, you will require Form No 16 to accurately report your salary income and TDS details.
3. Verification: Form No 16 is also necessary for taxpayers to cross-verify the information provided by their employer and ensure accuracy in their tax filings.
4. Loan Applications: Many financial institutions require Form No 16 to assess the income and tax liability of individuals applying for loans, such as housing loans or personal loans.

It is important to note that the requirement of Form No 16 may vary based on the tax laws and regulations of different countries. Therefore, it is advisable to consult with a tax professional or refer to the specific guidelines prescribed by the tax authorities in your jurisdiction.

For pdfFiller’s FAQs

What is form no 16?

Form No. 16 is a certificate issued by an employer to its employees. It contains details of the employee's salary, deductions, and taxes deducted at source.

Who is required to file form no 16?

Employers are required to issue Form No. 16 to their employees.

How to fill out form no 16?

Form No. 16 is filled out by the employer using the employee's salary details, deductions, and TDS information.

What is the purpose of form no 16?

The purpose of Form No. 16 is to provide employees with details of their salary, deductions, and TDS for filing their income tax returns.

What information must be reported on form no 16?

Form No. 16 must include details of the employee's salary, deductions, and taxes deducted at source.

How can I manage my form no 16 directly from Gmail?

In your inbox, you may use pdfFiller's add-on for Gmail to generate, modify, fill out, and eSign your form no 16 and any other papers you receive, all without leaving the program. Install pdfFiller for Gmail from the Google Workspace Marketplace by visiting this link. Take away the need for time-consuming procedures and handle your papers and eSignatures with ease.

How can I send form no 16 for eSignature?

Once you are ready to share your form no 16, you can easily send it to others and get the eSigned document back just as quickly. Share your PDF by email, fax, text message, or USPS mail, or notarize it online. You can do all of this without ever leaving your account.

Can I create an eSignature for the form no 16 in Gmail?

You may quickly make your eSignature using pdfFiller and then eSign your form no 16 right from your mailbox using pdfFiller's Gmail add-on. Please keep in mind that in order to preserve your signatures and signed papers, you must first create an account.