Types of Form 16įorm 16-A: It is a document that provides a concise overview of the amount of tax deducted by an employer or organization from an employee's salary and subsequently deposited with the Income Tax Department. The form is generally released before the end of May for the preceding fiscal year, which runs from April 1st to March 31st. In other words, Form 16 is a certificate of tax deduction at source issued by the employer to the employee upon tax deduction. (Representational Image)Īlso Read | Income Tax Return: What is ITR-1 or Sahaj ? Who is eligible to file? This form serves as proof that Tax Deducted at Source (TDS) has been appropriately deducted from the employee's salary and deposited with the government on their behalf. Employers are required to provide Form 16 to their employees at the end of each financial year. The Form 16 is a crucial tax sheet that includes all the necessary details required for an employee to file their Income Tax Returns (ITR).
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