Download Income Automated Form 16 Part B which can prepare at a time 50 employees Form 16 Part B for Financial Year 2015-16 & Ass Year 2016-17
In this fast moving world, young individuals switch job more
often with an aim to get better opportunity and better increment. Form 16, is
very vital for the salaried employee while filing tax returns. However, a
situation may arise when they have to file returns and are left with multiple Form 16. Here are 10 things you must
know on Form 16.
1) Form 16 is issued by the employer to employee. This
certificate provides all details of salary earned and tax deducted at source by
the employer.
2) If a person has changed job, he needs to collect the Form 16 from both the
employer at the year end, with the help of both forms only he would able to
file his returns.
3) An individual can have multiple Form 16 in cases such as
change in job or working with multiple employers simultaneously.
4) If your salary drawn is below the basic exemption limit,
you may not be issued with this certificate by your employer as no TDS is
deducted.
5) If your employer has not provided with Form 16, you can
check the salary slip as it will mention the same.
6) Form 16 includes key information required such as gross
salary, perquisites, various allowances and deductibles.
7) If you have changed the job in the same financial year,
authorities require you to sum up the total income from both the employers and
file income tax return.
8) If the previous employer has not issued form 16 on
account of some reason such as no tax deduction at its end, employee can file
the return taking into consideration the pay-slips plus the form 16 issued by
the new employer.
9) If you do not wish to furnish form 16 issued by your
previous employer to the new employer, you can file tax return taking cues from
the two form 16 issued by the previous and new employer.
10) Form 16 will mentioned the PAN Number of the
employer.