Buy a Life Insurance Plan in a few clicks
Create wealth through bonus payout from 1st policy year
A plan that offer guaranteed returns and financial protection for your family.
Kotak Guaranteed Fortune Builder
A plan that offers guaranteed income for your future goals.
Thank you
Our representative will get in touch with you at the earliest.
Pay 10,000/month for 10 years, Get 1,65,805/Year* for next 15 years.
ARN. No. KLI/23-24/E-BB/1201
Features
Ref. No. KLI/22-23/E-BB/999
If you are wondering how to download Form 16, the process is simple and can be done online. Your employer usually provides this document, but if you have not received it, you can download Form 16 for salaried employees through the TRACES website or request it directly from your HR or accounts department.
How to get Form 16 is a common query for many taxpayers as it contains details of your salary, TDS, and other financial information. Form 16 is a tax certificate issued by your employer u/s 203 of the Income Tax Act, 1961. It serves as proof that TDS has been deducted from your salary and deposited with the government.
Form 16 is essential for salaried employees to file their income tax returns. If your employer does not provide this form, you can also access Form 16 download online if needed. Follow this step-wise guide to how to download Form 16 from the authorized Income Tax Department website:
Step 1: Visit the Income Tax Website
Go to the Income Tax Department’s website (www.incometaxindia.gov.in). Ensure you have stable internet connection and use a secure browser to access the site.
Step 2: Navigate to the ‘Income-tax Forms’ Section
Step 3: Access the Forms Page
Once you click on ‘Income-tax Forms’, you will be redirected to a page listing various tax-related forms.
Step 4: Locate Form 16
Step 5: Choose the Download Format
Next to Form 16, you will find two options:
Step 6: Download Form 16
Click on your preferred format, and you will be directed to a new page. From there, download the form and save it for your tax filing needs.
Form 16 is structured into two key parts: Part A and Part B, each serving a distinct purpose. While Part A primarily focuses on TDS details, Part B provides a comprehensive salary breakup and tax deductions. Understanding these components helps ensure accurate income tax filing. Below is a breakdown of both sections:
Part A of Form 16
This section serves as a TDS certificate, confirming that your employer has deducted the tax from your salary and deposited it with the government. Your employer can generate Part A from the TRACES portal, and it must be digitally or physically signed by the employer. It includes:
Part B of Form 16
This section is an annexure to Part A, detailing your income breakup and tax deductions. If you have switched jobs in the financial year, you can request Part B from either your previous employer or both employers. Key details include:
◦ Section 80C – Investments in PPF, EPF, life insurance, etc.
◦ Section 80CCC & 80CCD – Pension contributions.
◦ Section 80D – Health insurance premium.
◦ Section 80E – Interest on an education loan.
◦ Section 80G – Donations to charitable organizations.
◦ Section 80TTA – Interest on savings account deposits.
Form 16 is an important document for salaried individuals, serving as proof of TDS by employers. You need TDS claim forms when you have income from other sources apart from your salary and choose to file your income tax returns. Most banks use this document as a part of their verification process when an individual applies for a loan of any kind, like a housing loan, consumer loan, vehicle loan, personal loan, etc. Learning how to download Form 16 is essential in such cases, as it serves as a key document for verifying tax compliance.
Apart from Form 16, there are other forms like Form 16A and Form 16B. TDS deducted on salary is reflected in Form 16, and the TDS that is deducted on other payments is reflected in Form 16A. Further, Form 16 is generally issued annually, whereas the TDS Form 16A certificate is issued quarterly. On the other hand, Form 16B is issued when TDS is deducted on the sale of immovable property, reflecting the tax deducted by the buyer from the seller under Section 194-IA of the Income Tax Act.
Any employed individual earning a salary must file claims under TDS via Form 16. If the earning individuals do not file tax returns, it is not important for them to submit Form 16. However, the employers still have to issue the certificate so that they can keep track of their earnings. Understanding how to download Form 16 is advised for salaried employees to ensure timely tax filing.
Ensuring an error-free Form 16 generation process is necessary for both employers and employees. Here are some essential tips to streamline the process:
Form 16 provides all the necessary details required for filing your Income Tax Return (ITR). It includes critical information related to your salary, tax deductions, and TDS that helps ensure accurate tax filing. Here are the key details from Form 16 that are required when filing your ITR:
Salary and Tax Details:
Deductions Under Chapter VI-A:
Tax and Employer Details:
Personal Details:
Filing your ITR online using Form 16 is a simple and convenient process. The official Income Tax e-filing portal allows taxpayers to submit their returns efficiently while ensuring all details from Form 16 are accurately reported. Here’s a step-by-step guide to help you file your ITR online:
1. Visit the Income Tax e-Filing Portal – Go to the official Income Tax Department website (www.incometax.gov.in).
2. Log in to Your Account – Input your PAN as the user ID and fill in your password along with the captcha code to access your account.
3. Enter PAN and Personal Details – Provide essential details such as your PAN number, financial year, and other requested information.
4. Fill in Additional Information – Enter personal details like your date of birth, home address, and mobile number, ensuring they match official records.
5. Submit for Verification – Once all details are correctly entered, proceed to verify and submit your ITR using Aadhaar OTP, net banking, or a Digital Signature Certificate (DSC).
1
Form 16 is a TDS certificate provided by an employer to salaried employees. It contains details of salary paid, tax deducted, and deposited with the Income Tax Department. This document is significant for filing ITR as it helps verify income and claim deductions. If you are unsure how to download Form 16, you can obtain it from your employer or check online through the TRACES portal.
2
Many organizations provide Form 16 through their HR or payroll portal. If you are wondering how to download Form 16, you can log in to your company's employee self-service (ESS) portal, navigate to the Tax Documents section, and download it. If not available, you can request it from your HR or finance department.
3
No, the Income Tax Department does not issue Form 16 directly to employees. It is generated by the employer through the TRACES portal and provided to employees. If you are unsure where to download Form 16, you should check with your employer or access it through their HR or payroll portal. Additionally, you can check your Form 26AS on the Income Tax e-filing portal to verify TDS details.
4
No, Form 16 is issued only by employers who deduct TDS from salaries. If no TDS is deducted, your employer may not provide it. However, if you are wondering how to download Form 16, you can check with your employer or use alternative documents such as salary slips, bank statements, and Form 26AS for income verification.
5
To download Form 16 from an employer's portal, you need:
Pay 10,000/month for 10 years, Get 1,65,805/Year* for next 15 years.
ARN. No. KLI/23-24/E-BB/1201
Features
Ref. No. KLI/22-23/E-BB/999
The information herein is meant only for general reading purposes and the views being expressed only constitute opinions and therefore cannot be considered as guidelines, recommendations or as a professional guide for the readers. The content has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. Recipients of this information are advised to rely on their own analysis, interpretations & investigations. Readers are also advised to seek independent professional advice in order to arrive at an informed investment decision. Further customer is the advised to go through the sales brochure before conducting any sale. Above illustrations are only for understanding, it is not directly or indirectly related to the performance of any product or plans of Kotak Life.
Start saving today and enjoy guaranteed returns with our Savings Plans!