Form 16 is a certificate that reflects the total salary paid and the amount of TDS deducted, by the employer, during the year. It also contains the details of salary and tax benefits availed by an employee in the last financial year.
All employees have to obtain a Form 16 from their employees for filing IT returns.
There are several layers to Form 16 – each unique and, at the same time, vital to the tax filing journey. It mainly consists of four parts: