Income Tax Form 16: Do you use Form 16 to pay income tax? Do you know the difference between Form 16 A and B? If not, let’s try to understand this in detail here.
Income Tax Form 16: The new year has started and with it discussions have started on what changes will be made regarding income tax in the budget of session 2025-26 and what not. Whenever it comes to paying income tax, Form 16 also starts getting mentioned. Form 16 is a kind of certificate, which has a direct connection with the employed people.
Form 16 is the only information about the salary, income and tax of the employed people. This shows how much tax has been deducted from the salary and from which section the tax savings have been made. The company in which the person is working, the same company issues Form 16 on or before June 15 of the assessment year. After which the salaried people are able to file income tax returns.
Form 16 is not only used for filing tax. It also acts as a kind of income proof, which is also used while taking a loan from a bank or finance company. Income tax payers must be aware of Form 16, but do you know the difference between Part A and B of Form 16? If not, then this article is for you. Here we have brought some details about Part A and B of Form 16 used while filing income tax return.
What is the difference between Part A and B of Form 16?
Form 16 Part A
- Part A of Form 16 contains details of certificate, date, TAN of the institution, PAN of the institution and employee, address, assessment year, period of employment and how much TDS has been deposited in which quarter.
Form 16 Part B
- Part B of Form 16 contains details of gross salary and its breakup. Such as salary, house rent allowance etc. Part B also has a column for investment (insurance, provident fund, interest etc.), but the amount will be visible only when you have given its details to the employer.
- Information about tax exemption and relief under section 89 is also available in Part B of Form 16.
- Income tax can be easily filled with the help of Form 16. Companies give this form to their employers. On the other hand, if you have any income other than salary, then there is Form 16A for this. Let us understand here how Form 16A is different from Form 16.
What is Form 16A?
This is also a type of TDS certificate, but it contains details of income other than salary. Form 16A shows how much TDS has been deducted on non-salary income. For example, apart from salary, a person can have income from other sources, which includes returns on fixed deposits, mutual funds, gold bonds and other capital gains. Now many of these income sources are taxed by the government.
How can you download Form 16?
- You can also download Form 16 yourself, for this first visit www.tdscpc.gov.in/en/home.html.
- Login to TRACES and click on the taxpayer option.
- Login here with user ID, password and PAN details.
- Go to Downloads from the dashboard and click on Form 16 there. Now after downloading the form, select the financial year and enter the PAN details. Now your Form 16 will open.
- If you have any question related to our story, you can tell us in the comment box. We will keep trying to bring the right information to you.
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