How to upload form 16a online dating
Form 16 is a TDS certificate issued by employer to the employee for the financial year with the details of tax deducted, tax deposited, Challan number, date of deposit, PAN of the employee and employer.
Every employer at the time of payment of salaries to employee has to compulsorily deduct TDS at the average rate computed on the basis of estimated income of the employee.
The notification can be accessed by clicking here .
So, the time has come for your employer to inform you about the taxes deducted in the previous year i.e.
Income tax slab rates for the financial year in which such income tax at sources is deducted will be applicable to the employee. Form 16 has to be issued on or before 31 It’s not mandatory for the employer to issue form 16 in case it is not required to deduct tax at source (TDS) by virtue of claims of exemptions and deductions.
In case you have worked for more than one employer then both the employers will issue form 16.
If any error is identified in the certificate, deductor will have to file a correction statement for the same.
Although TDS on salaries is deducted at the average rate of estimated income (according to the Slab rates ), TDS on all other payments like TDS on interest, TDS on Rent etc.