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February 13, 2017Call to Order, Roll Call, and Pledge of AllegianceA regular scheduled meeting of the Board of Education of Olympia Community Unit School District No. 16, held in the Conference Room
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Form 16 is a tax certificate issued by employers to their employees, detailing the salary received and tax deducted at source (TDS) during a financial year.
Employers are required to issue Form 16 to their employees if TDS has been deducted from their salaries.
Form 16 is filled out by the employer by entering details such as employee information, salary, deductions, TDS deducted, and the summary of tax payments.
The purpose of Form 16 is to provide a legitimate document to employees to help them file their income tax returns, showing how much tax has been deducted and paid on their behalf.
Form 16 must report the employee's personal details, salary details, deductions claimed under various sections, TDS deducted, and break-up of taxable income.
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