Why is Form 16 Required?

Through filing the Form 16, you need to submit some of the essential details, like

• Deductions under section 16
• Income from other sources
• Total tax payable is refundable
• Taxable salary
• Exemption under section 10
• Income from the property is declared for the TDS. 

In Form 16 Part A, you will get information about: 

• Name and address of the Individual employer. 
• PAN of the employer.
• TAN of the employer. 
• Quarterly TDS deduction against salary. 
• Date of the TDS deduction deposited with the government

. 

In part B, you will get the following information: 

• Salary allowances.
• Reduced allowances under section 10. 
• Deduction under Chapter VI-A
• Income of the employee other than TDS deduction. 
• Relief under section 89. 
• Total
• Taxable income of TDS. 

Form 16 can only be obtained from the employer from whom TDS has been deducted. If your income falls under the tax exemption limit or not, you need to file Form 16 if you have TDS.