What is Form 16?

Form 16 is a certificate issued under section 203 of the Income Tax Act, 1961, by the employer to his employee as per the format provided by the Income-tax Department. It serves as proof for employees that their tax has been deducted at the source and deposited with the government authorities. Form 16 has two Parts PART-A and PART-B. 

Form 16 PART-A: Part A contains information of TDS deducted and deposited by the employer to the government authorities. Also, it contains PAN, TAN, and other information about the employer.  It is generated from TRACES login with the TRACES utility. 

.Form 16 PART-B: Part B contains the information of computation of salary, other sources of income, deductions, rebate, and tax liability of an employee. It is generated through TARCES login with the help of a utility.   

Form 16 Part A has the following details -

• Unique TDS Certificate Number
• Employer Name and address.
• Employee Name and address.
• Employer PAN and TAN 
• Employee PAN and Reference Number 
• Financial Year and Period of Employment
• Monthly details of TDS Deducted and Deposited. 

Form 16 Part B has the following details -

• Salary bifurcation 17(1), 17(2), etc
• Details of other income.
• Deductions under VIA
• Deductions under others
• Total taxable income.
• Tax on total income
• Rebate under section 87A,
• Net tax payable.

Sample of Form 16 Part-A:

Sample of Form 16 Part-B:

Use our Smart Form 16 software which will help you to generate digitally signed Form 16 with password protection in a single click. 

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