Hi experts,
As this is the 1 year that i am going for form 16.
In my previous organization, i havnt done the IT return.
So please considering me as a layman please tell me,
1) what are the things that are considered for tax deduction ?
2) what is "form-16" is all about?
Regards,
Vinay
As per section 192B, employer has to deduct tax on average basis every month from the salary payment if your yearly salary payment exceed Rs. 150000.
empoyer issue a certificate in form 16 for such deduction and payment to CG on the basis on which you can know your annual income and tax deducted and deposited to CG
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