Key Points
This is a TDS certificate that contains details of salary, allowances, and other benefits that are given to an employee by an employer during a financial year..
Form 16 also mentions the tax that has been deducted from the salary and other benefits paid during the financial year...
This Form 16 shows details of the tax deducted, salary income aid, tax exemption and deductions claimed for an employee during the financial year 2022-23..
Part A of Form 16 shows the total tax deducted by an employer during the financial year along with the other details such as PAN of an employee, PAN and TAN of employer etc..
At the start of every financial year, an employee is required to communicate to the employer about the tax regime chosen by him/her for the purpose of TDS on salary..
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ITR: Govt not contemplating extension of July 31 deadline, says Revenue secretary Sanjay Malhotra
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