Form 16
This query is : Resolved
Ganeshbabu K
(Expert)
07 June 2013
FORM 16:-
If you are employed in an organization, you will obviously receive a salary after your employer deducts the tax. The process is called tax deduction at source.
Form 16 is needed for the purpose of filing returns, as it will help you file your salary income.
Form 16 is very necessary as it acts as salary proof and tax paid to the government. At the end of the every financial year, the employer provides you form 16.
The Form 16 provides complete details of the salary details of the employee along with necessary adjustments for income tax. Form 16 is applicable for only salaried people.
In case, if you have worked in two different organization in a single year than you have to obtain two different Form 16s from the two companies in order to file the IT returns.
However, it is not compulsory to give the form 16 to the employee if there is no TDS deducted.
FORM 16A:-
This form is for non salaried employee who work as a professional for an organization. This is used in various cases where tax is deducted.
Say for example, interest earned on bank fixed deposits, will results in tax being deduced at source, subject to the interest income being over Rs 10,000. In such cases each financial bank issues TDS certificate to the customers.
Form 16A is issued in cases like interest on securities, winning lottery or horse race, fees earned from professional or technical services etc.
If you are employed in an organization, you will obviously receive a salary after your employer deducts the tax. The process is called tax deduction at source.
Form 16 is needed for the purpose of filing returns, as it will help you file your salary income.
Form 16 is very necessary as it acts as salary proof and tax paid to the government. At the end of the every financial year, the employer provides you form 16.
The Form 16 provides complete details of the salary details of the employee along with necessary adjustments for income tax. Form 16 is applicable for only salaried people.
In case, if you have worked in two different organization in a single year than you have to obtain two different Form 16s from the two companies in order to file the IT returns.
However, it is not compulsory to give the form 16 to the employee if there is no TDS deducted.
FORM 16A:-
This form is for non salaried employee who work as a professional for an organization. This is used in various cases where tax is deducted.
Say for example, interest earned on bank fixed deposits, will results in tax being deduced at source, subject to the interest income being over Rs 10,000. In such cases each financial bank issues TDS certificate to the customers.
Form 16A is issued in cases like interest on securities, winning lottery or horse race, fees earned from professional or technical services etc.
Ganeshbabu K
(Expert)
07 June 2013
Please refer below link
https://www.tdscpc.gov.in/en/user-manual.html
containing user manual on how to use traces website and how to download form 16 and form 16a and how to register in traces and so many can be clarified here
if any doubts refer FAQ given by traces
https://www.tdscpc.gov.in/en/top-faq.html
https://www.tdscpc.gov.in/en/user-manual.html
containing user manual on how to use traces website and how to download form 16 and form 16a and how to register in traces and so many can be clarified here
if any doubts refer FAQ given by traces
https://www.tdscpc.gov.in/en/top-faq.html
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