Frequently Asked Questions
| Form 16 | Form 16A | |
|---|---|---|
| To whom is it issued? | Salaried Employees | Non-salaried Individuals |
| Where is the TDS applicable? | Salary | Income from sources other than salary – bank interest payments, professional fees, rent, etc. |
| When are they issued? | Annually basis | Quarterly basis |
Should employer issue Form 16?
Form 16 contains the information you need to prepare and file your income tax return. Employers must issue it every year on or before 15 June of the next year, immediately after the financial year in which the tax is deducted. In case you lose your Form 16, you can request for a duplicate from your employer.
What if Form 16 is not given by employer?
In case an employer fails to provide you with a Form 16 after having deducted TDS – the minimum penalty that the employer will pay is Rs 100 for every day the default continues. In this case, you may have to pay tax to the government on your income yourself and later on claim from your employer.
How can I get Form 16A from employer?
The document is typically issued by your employer for the current financial year and reflects the total earnings and income taxes applicable for that financial year. You can download the form from the online website of the Income Tax department as well.
When should we submit Form 16A?
Given every year on or prior to 15th June of the upcoming year, this certificate follows the year when tax is reduced. How can I get Form 16A online? Generally, this document is given by the deductor who issues this payment and gathers taxes for the deductee.
Can I get Form 16 if my salary is not taxable?
As per income tax rules, every employer must issue Form 16 to employees with income subject to TDS. However, there can be instances of Form 16 not issued, such as when income is below basic exemption, or a taxpayer has switched jobs and not received Form 16 or, an employer is winding up business.
Can Form 16 be faked?
In such cases, Form 16 can still be generated. It would not comprise of Part A since TDS would be Nil and TDS Return would not have been filed. Such a Form 16 would comprise of Part B with all the details of Salary Income of the employee.
What is Form 16A and 16B?
Form 16, Form 16A and Form 16B are all certificates of tax deducted at source on your income from different sources. All three of them vary in terms of purpose, eligibility, and where they are applicable.
Do you need a form 16A if you are an employee?
Before filing Income Tax Returns, you need to possess Form 16 – if you are an employee of an organization, or Form 16A – in case of an income from sources other than salary. Form 16 and Form 16A are certificates of TDS (Tax Deducted at Source) used by individuals earning income while filing income tax returns.
How is form 16 issued under the IT Act?
It is the certificate of deduction of tax at source by any person in accordance with Chapter XVII-B of IT Act. Form 16 is issued on deduction of tax by the employer on behalf of the employee under section 192 of IT Act, 1961. Form 16A is issued if the deduction of tax is under any other provision of Chapter XVII-B of IT Act.
What’s the difference between form 16A and 26as?
It is a form which indicates that the tax that has been deducted has also been deposited with the Govt. The Form 26AS contains details of tax deducted on behalf of the taxpayer (you) by deductors (employer, bank etc.). So, TDS deductions that are given in Form 16 / Form 16 A can be cross checked using Form 26AS.
What is the purpose of TDs form 16 / 16A?
Form 16/ 16A is the certificate of deduction of tax at source and issued on deduction of tax by the employer on behalf of the employees. These certificates provide details of TDS / TCS for various transactions between deductor and deductee.
