If you are a salaried person then Form 16 ( Income Tax Return From 16 ) is issued to you by the employer before income tax payment. This is a form in which full details of the salary paid to the employee and the Tax Deducted at Source ( TDS ) deducted on it are given. It is one of the most important documents for ITR filers, as the taxpayer can save his tax through it. So let’s know about this form useful for ITR.
What is Form 16
Form 16 is an income tax form, which is used by companies to provide information about tax deducted (TDS) of their salaried individuals. When Form 16 is provided to an employee by their employer, it is considered as a source of proof for filing their income tax return. Form 16 mainly has two parts – Form 16A and Form 16B.
When is Form 16 issued?
The due date for issue of Form 16 in the financial year is 15th June 2023. If your employer has deducted TDS from April 2022 – March 2023, Form 16 should be issued by June 15, 2023. With this you can avoid tax deduction twice by the Income Tax Department.
How to download this form
If you are a salaried person then Form 16 is issued by your employer and you can apply for the same if the company has not issued it. On the other hand, if you do not have an employer and you are self-employed, then for this you can also download this form. Its steps are given below-
- Step 1: Visit the official website of Income Tax Department https://www.incometaxindia.gov.in/Pages/default.aspx.
- Step 2: On the home page, under the section ‘Forms/Downloads’, you will find the option of ‘Income Tax Forms’, click on it.
- Step 3: Scroll down the page, you will see Form 16 under Frequently Used Forms.
- Step 4: Next, you will find ‘PDF’ and ‘Fillable Form’ options under ‘Form 16’, which can be downloaded by clicking on it.
