Tag Archives: Form 16

FAQ’s regarding Salary certificate (Form 16) and related matters

What is Form 16…? Form 16 is a TDS Certificate issued by the employer deducting the TDS while making payment to an employee. As per The Income Tax Act, every employer at the time of payment of salaries shall deduct TDS at the average rate of Income Tax computed on the basis of The Income Tax Slab Rates in force for that financial year in which the payment is made on the estimate… Read More »

FAQ’s regarding Salary certificate (Form 16) and related matters

What is Form 16…? All salaried employees have to file their income tax returns by July 31, 2011. To do this, it is necessary to have the Form 16 issued by the employer. Form 16 gives details of tax deducted and the bank branch where it is deposited. For example, if a TDS of Rs 2,332 and education cess of Rs 68 are deducted from your April salary, Form 16… Read More »