Form 16 of the income tax automatic salary certificate for the financial year 2021-22 with defecation of
the new revised form 16. The Form 16 certificate, also known as the TDS certificate, is a financial
statement issued by a salaried employee's office that includes earnings, deductions, and "income tax"
or "I-T" paid to the government. This Form-16 Certificate (TDS Certificate) must be issued by your
employer to each employee covered by "Withholding Tax Deduction - TDS" at the end of each
financial year.
All salaried employees must use the Form 16 certificate as a supporting document for IT return to
Download Automatic One by One Preparation Form 16 Part B In Excel for the F.Y.2021-22
Even if your earnings are outside the TDS constraint, you are still eligible to receive the Form 16 document or also known as a TDS certificate upon request. In certain situations, such as obtaining a bank loan for a house or car, etc., the bank may ask you to present a salary certificate and Form 16 as proof of your earnings, deductions and the company's net income.
Form 16 Certificate Definition with reference to Department I-T, Gov. of India
Form 16 is a certificate issued to an employee by his officer under section 203 of the Income Tax Act, 1961 for the deduction of withholding tax from income under "Salaries".
Download Automatic One by One Preparation Form 16 Part A&B In Excel for the F.Y.2021-22
The form 16 certificate must contain details of the withholding tax (TDS) by the company on behalf of the employee.
Tax deducted at source: TDS is a tax payable on the tax payable against the same income tax paid by a third party taxpayer (employer or official authorized to issue the Form-16 certificate) to the individual. , The withholding tax deduction is the general taxation of income for most countries.
Tax Deductible Account Number: TANis the authorization number that an employer or officer must obtain from the Income Tax Department before filing TDS. It is the responsibility of the TAN holder to receive TDS from an employee's salary and pay the same amount of collective tax to the government on behalf of their employee.
The employee must use the Form-16 certificate to file the income tax (IT) return at the end of each financial year.
Download and prepare at a time 50 Employees Automatic Form 16Part B In Excel for the F.Y.2021-22
Form 16 Composition of the certificate (tax certificate)
We will now look at the Form-16 certificate format and what data is specifically shown in the Form 16 format structure:
The first part of the Form-16 format requires primary information about the employer (TDS depositor) and the employee. It should contain the address, designation, PAN, TAN, period of the TDS, year of evaluation, and the approval number of all quarterly TDS details received from the IT department.
The second part of the form 16 template requires details of the salary paid by the employer, the other income declared by the employee and the tax deducted at the source.
The third part of Form 16 shows the details of the tax deducted and filed with the Department of Income Tax, Govt. of India.
Finally, all data reported in this "Form-16" certificate must be certified by the issuing authority with signature, date and office seal.
Download and prepare at a time 50 Employees Automatic Form 16 Part A&B In Excel for the F.Y.2021-22
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