Wednesday, June 24, 2009

What is Form 16



Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source from income chargeable under the head “Salaries”.

All income received as a salary is taxed under this head such that the Employer & Employee relation-ship exists. Employers must withhold tax compulsorily, if income exceeds minimum exemption limit, as Tax Deducted at Source (TDS), and provide their employees with a Form 16 which shows the tax deductions and net paid income.

Download Form 16 from here.....

http://www.incometaxbangalore.org/pdfs/itr62Form16.pdf

http://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/pdf/itr62Form16.pdf

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