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What is Form 16?
Form 16 is a Certificate of Deduction of Tax at Source issued by your employer organization after the end of each financial year.
It includes the details of the employer organization, the amount of tax deducted (from salary) and deposited, the details of the salary and other income and deductions considered by the employer organization to compute the amount of TDS.
Most organizations issue this Form in the month of May. More and more organizations are now issuing the Form 16 in an electronic format (a digitally signed pdf document).
Form 16 forms the basis for preparation of the tax return for the salaried individuals.
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