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Kotak e-Term Plan is a pure term plan that provides a high level of protection to your loved ones in your absence.
Kotak e-Invest is a comprehensive Unit Linked Life Insurance Plan that can be customized as per your goals and needs - be it protection; investment; financial security for child or retirement planning.
Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and insurance cover against any eventuality.
Kotak Lifetime Income Plan gives you the assurance of your income continuing throughout your life and in your absence throughout the lifetime of your spouse!
The Kotak Health Shield Plan helps secure your finances in times of sudden medical expenses related to illness such as Cardiac, Liver, Neuro and Cancer (all early and major stages of illness /conditions of Cancer); along with offering protection for Personal Accident - in case of accidental death or disability.
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The Income Tax Department deals in providing the income taxpayers with different forms and applications that help them with TDS payments, deductions, and deposits. Form 16A is one such form.
Form 16A is a certificate that every employer of every organization must maintain for their employees. The Tax Deducted at Source (TDS) is a certificate that states all the taxpayer’s or individual sources of income. Form 16A is a TDS form certifying the number of TDS deducted and the nature of payments alongside the TDS payments that are deposited with the Income Tax Department. Pertaining to the Income Tax Act, 1961, TDS is deducted on all kinds of payments only if the payment made during the assessment year is more than ₹30,000 unless exempted otherwise.
TDS Form 16A is a Tax Deducted at Source (TDS) certificate provided along with Form 16. One noteworthy fact is that form 16 is only for salary income; however, Form 16A is applicable for TDS on income sources other than salary. For example, form 16A will only be issued when the TDS is deducted for fixed deposits or for the TDS deducted on insurance commissions, rent receipts, or any other income you may receive on which TDS is deductible.
The components and specifics that make up the Form 16A for exemptions under TDS are:
All these details that are needed to be mentioned in Form 16A are important when an individual is filing Income Tax returns. The Form 16A, a TDS certificate, carries all the amounts of the TDS nature being deposited with the Income Tax Department.
While filling up the details in 16A, taxpayers should follow these easy steps:
The exemption under TDS is a simple entry that saves your tax from the non-salaried incomes. Enter all the details correctly to enable yourself for the deductions under the tax-saving scheme. It is an important step to file your ITR and make a well-thought-of decision. You should, therefore, be prudent in filling the forms carefully and accurately.
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