Form 16A Archives

What is form 16, how to Download Form 16, and how to file ITR with Form 16 Introduction Form 16 is related to income tax and is used by businesses to offer information on tax deductions to their salaried employees. If you're not sure what Form 16 is, the simplest answer is that it's a document issued by your company that confirms the pay data earned during a specific year and the amount of TDS deducted. When it comes to taxation, Form 16 is one of the required forms for salaried individuals. It contains all pertinent information about a person's pay and the total amount of tax deducted by the issuer. This blog includes information on what is Form 16, How to download form 16, and How to file ITR with form 16. What is Form 16? Form 16 is an income tax form that organizations use to tell their employees about the taxes deducted. The proof filing of income tax returns by the employer to the government is known as Form 16. If an employee exceeds the limit decided by the government then the employer needs to deduct a certain amount from the employee’s salary as a form of TDS (Tax Deducted at Source). Employees can claim Form 16, from the employer. Advantages of Form 16 Helps employee in filing their ITR (Income Tax Return) Organizations use Form 16 to inform their employees about the taxes deducted from their pay. Form 16 is the proof filing of income tax returns by the employer to the government. Organizations use Form 16 to inform their employees about the taxes deducted from their pay. Form 16 is the proof filing of income tax returns by the employer to the government. Helps employee in Computing Tax Liability Businesses use Form 16 to inform their employees of the taxes that have been deducted from their pay. When an employer deducts an excessive amount from an employee's salary, Form 16 can be used to file a refund claim for the excess amount deducted. At the time of Applying for Credit Card Form 16 serves as verification of income and a declaration of income tax liability, allowing credit card companies to analyze a consumer's financial situation. This certificate is used by financial institutions to calculate the borrower's credit limit. A customer with a high income may be able to obtain a greater credit card limit. Different parts of Form 16 Form 16A Form 16B What is Form 16A? Form 16A, just like Form 16 is a TDS certificate. It is an acknowledgment receipt that states the tax that has been deducted from income other than salary by the employer and the same has been deposited with the Income Tax Department. Form 16A is issued when the TDS deduction is made for the income of fixed deposits in the bank or TDS deducted on insurance commission, TDS deducted on your rent receipts, etc. Hence, Form 16A is issued when TDS is deducted on any other income you receive that is liable for such deduction. Form 16A, just like Form 16 contains the details of deductor and deductee, like name and address, details of PAN and TAN, also the number of TDS deducted and deposited with the government. All details that are there in Form 16A are available on Form 26AS. What is Form 16B? Form 16B is a kind of acknowledgment receipt that states that the total amount of tax that has been deducted while purchasing a property and the same amount of deducted tax has been deposited by the seller with the Income Tax Department. Form 16B is a form of a certificate, where the seller is certifying details regarding the total TDS deducted in case of a property sale. Form 16B verifies the TDS applicable on the sale procedure of the property. How to download Form 16? Visit the income tax department website Login to the website Go to the download tab Select Form 16 Select the appropriate financial year for which Form 16 is needed Enter PAN, click on Add and click on go to proceed Click on submit for downloading Form 16 How to file Form 16 with ITR (Income Tax Return)? Section 10 of the Income Tax Act exempts certain expenses from being taxed. A breakdown of the deductions allowed under Section 16 of the Income Tax Act, as well as the income from home property that is subject to TDS. TDS was funded by income from other sources. A breakdown of the deductions available under Chapter VI-A of the Income Tax needs to be included Net Tax Payable or a refund due Additional information that is needed of form 16, for filing Income Tax Return Employer's TAN, PAN, Address, and Name of employer's TDS by employee Address and Name of a Taxpayer PAN of the Taxpayer Permanent Assessment Year Difference between Form 16, Form 16B, and Form 16A Form 16 Form 16B Form 16A Form 16 is issued by the employer, who deducts the TDS (Tax Deducted at Source). Issued by the buyer to the seller for the purpose of deducting TDS on the sale of immovable property. The financial institution that deducts the TDS issues this document. It is issued for the Tax Deducted at Source (TDS) on Salary. For tax deducted at source on the sale of immovable property, this certificate is issued. Tax deducted at source for any other income other than wages is issued. FAQs on Form 16A, Form 16B, Form 16 1. Is there a deadline for submitting Form 16? On or before the 15th June of the year immediately following the Financial Year in which income tax is deducted, Form 16 is issued to an employee once a year. 2. Is it necessary to file Form 16 with ITR? Form 16 is one of the most necessary documents for salaried individual to file their income tax return. As Form 16 contains information about the salary earned, house property, other sources of income, deductions, and tax paid or deducted, it is important to read it carefully. It is critical to have your Form 16 on hand before filing your tax return. If you do not have it, you can still complete your income tax return, but you will have to fill in all of the information on the form manually. 3. What is the password for Form 16B (TDS certificate for the purchase of property)? Form 16B- TDS certificate is always password protected. The password for Form 16B would be the Date of Birth of the buyer in DDMMYYYY format. That means if the Date of Birth of the buyer is 13th January 1997, then your password for Form 16B 13011997. 4. What is the password for Form 16A? Form 16A is always password protected. The password for Form 16A would be the first 5 characters of the PAN number in uppercase i.e. capital letters and Date of Birth of the employee in DDMMYYYY format. That means if your PAN number is BPTRA5997L and the date of birth is 11th November 2000, then your password for Form 16A would be BPTRA11112000. 5. What are the benefits of Form 16 and Form 16A? The data of TDS and income will help taxpayers at the time of filing for income tax returns and for calculating tax for the income. 6. For which period Form 16A is issued? Every quarterly Form 16A is been generated, and the due date for Form 16A is every 15th of the month. Conclusion At the time of ITR filing, Form 16, Form 16A, and Form 16B are beneficial to the taxpayer (Income Tax Return). Taxpayers who are familiar with Form 16 will be able to recognize its significance and apply it effectively. To avoid any inconsistency when it comes to filing taxes, taxpayers must learn about Form 16 and other forms and utilize them correctly.

For Indian Entrepreneur

For Foreign Entrepreneur

Special Entities

Tax Registrations

Other Registration

Returns

Annual Filings

Change Services

Closure

Legal Drafting

Special

Trademark

Copyright

Patent

Designing & Marketing

Blog

All about form 16, how to Download, and file ITR with Form 16

All about Form 16 and 16A of TDS

What is the password for TDS Form 16A?

Hi, Welcome to EbizFiling!

HOME

POLICY

RELATED LINKS

CONNECT WITH US

TOP 3 READS

All need to know about Trademark infringement

LLC vs. Corporation: Start your company in US

Duties of an Auditor in a Company

Secure Payment Modes

FSSAI Licence Modification
FSSAI License Renewal
Private Limited Company
US payroll services in India
UK Business Outsourcing Process in India
File CRF Form to change Master Data on MCA
Reply to Notice Under Section 148 of Income Tax Act
Reply to Notice u/s 143(2) of Income Tax Act for Scrutiny Assessment
Reply to Intimation Notice under section 245 of Incone Tax Act
Reply to Defective Notice u/s 139(9) of Income Tax Act
Reply to Income Tax Notice u/s 143(1)(A) for Prima Facie Adjustment
Reply to intimation notice of Section 143(1) of Income Tax Act
Reply to Income Tax Notice Under Section 133(6)
Corporate Legal Advice
LEI Code Registration
Employee Background Verification
US Business Solutions and Outsourcing Services in India
LLC Annual Compliances in Wyoming, USA
LLC Annual Compliances in Florida, USA
E-RCMC Registration under EPCES in India
Annual Filing & Bookkeeping & Accounting Service for Partnership Firm
ITIN Registration in the USA
Offshore Staffing Services in India
SEO Services in India
Content Writing Services in India
File Form 10BD Online under Income Tax Act
Annual Filing For Trust in India
Register a company in India from UK
Register a company in India from Germany
Register a company in India from France
Register a company in India from US
LLC Annual Compliances in Delaware, USA
Register a company in India from Canada
Register a company in India from UAE
Register a company in India from Singapore
Register a company in India from Australia
Company Registration in Indiana
Company Registration in California
Company Registration in New Mexico
Company Registration in New York
Company Registration in Texas
Company Registration in Wyoming, USA
Register Company in Florida, USA
Company Registration in Delaware
Annual Filing & Book-keeping & Accounting Service for Proprietorship Firm
Wall Designing
Virtual Office in India
Form 15CA Online Filing – Income Tax
NGO Darpan Registration
Overseas Direct Investment (ODI) through Automatic and Approval Route
HR Hiring and Recruitment Services in India
FLA Return Filing Online to RBI in India
APEDA (RCMC) Registration in India
ROC Annual Compliance for Producer Company
ROC Annual filing for Section 8 Company
ROC Annual filing for Public Limited Company
FCRA Registration Online in India
File Form CSR 1 online
Appeal to CIT- File an Appeal to Commissioner to Income Tax
Reply to Scrutiny Assessment Notice u/s 143(3)
Reply to Income Tax Notice- Know How to Respond to IT Notices
Surrender IEC License Online in India
भारत में कंपनी पंजीकरण / रजिस्ट्रेशन
Drop-Shipping Business in India by Foreigners
OPC Registration in India by an NRI
Company Registration in India- Know how to open a Company in India
Creation of Charge
LLP Registration in India by an NRI
Company Registration in India by an NRI
Right Issue of shares / Right Offerings
Renewal of IEC License
Application for the Extension of Name Reservation
Digital Marketing Services
Company Annual Filings in XBRL filing mode in India
12AA & 12A Registration Process
Trademark Registration / Brand Registration in the USA
Trademark Registration / Brand Registration in UK
Trademark Registration / Brand Registration in Malaysia
Strike Off Company
Payment of TDS return on purchase of property (form 26QB)
Business Advisory Services
Limited Liability Partnership Registration in Mumbai
Limited Liability Partnership
File ROC Form DPT 3 Return of Deposits
Income Tax Returns Filing
Private Limited Company Annual Filing
MCA Companies Fresh Start Scheme
LLP Annual Filing
MCA LLP Settlement Scheme 2020 (LSS 2020)
DIR 3 E KYC
ISO Certification in India
Run your operations / company in India without any liabilities
Add A Director
Accounting and Compliance Services for Start ups, Small companies, LLP and OPC (Micro Retainership Services)
Foreign Direct Investment through Automatic and Direct Route
A Quick guide to company registration in Bangalore
Apply for FSSAI license or Food license in India
Dormant Company Status Application
Trademark Registration in India
Conversion From Registered Partnership To LLP
Conversion From Registered Partnership To Private Limited Company
Change in Registered Office of LLP
Company Registration in USA
Company Registration in Malaysia
Company Registration in UK
Logo Design Services
Conversion of Private Limited Company to OPC
Opening a Branch in India by a Foreign Company
Nidhi Company Annual Filing
One Person Company (OPC) Registration in Mumbai
IEC Registration in Mumbai
Trademark Registration in Mumbai
Private Limited Company registration in Mumbai
Form GSTR 1
Maharashtra Professional Tax
Premium Retainership Services in India
MicroFinance Company registration
Conversion of Section 8 Company to Private Limited Company
DPIIT Startup Recognition certificate
RBI Form FC-GPR
Charge Registration on property
RBI Form FC-TRS
EPF Registration
PAN Application
Digital Signature
IEC Registration
TAN Application
DIN Application
GST Registration
Nidhi Company
Producer Company
Hindu Undivided Family (HUF), HUF Deed
Sole Proprietorship Firm Registration
Public Limited Company
E-Commerce Business
One Person Company (OPC)
Partnership
Indian Subsidiary
Non Profit Organization
GST Returns
CMA Report Preparation
E-Form Commencement of business certificate(form-20a)
Private Limited Company Registration
Startup Advisory Services
One Person Company (OPC)
Private Limited Company Registration
Income tax section 80g(5) registration
Company Registration Process in India for Foreigner- Know How to Open a Company in India
Secretarial Compliance Services
Search Report ROC
Revival of Struck Off Company
Trademark Watch Services
One Person Company (OPC)
Limited Liability Partnership
GSTR 9C filing by CA- GST Annual Audit due date, GSTR 9C FAQs
Tax Consultancy Services
International Trademark Registration Under Madrid Protocol
Surrender of DIN
Trademark Registration Process
LLP Registration Procedure – copy
LLP Registration Procedure – copy
Online LLP Registration and Complete Procedure
Aadhaar Udyog Online Registration
New Form INC-22A
FIND GST RATE, HSN CODE & SAC CODE
Company Registration in India
Hire Purchase
Contract Manufacturing Agreement
Web Development Agreement
Sole Selling Agreement
Underwriting Agreement
Mortgage Deed
Agreement Appointing A Common Arbitrator
Deed of Wakf-Alal-Aulad
Specific Power of Attorney
Foreign Collaboration Agreement Drafting
Joint Venture Agreement
Non- Disclosure Agreement
Franchise Agreement
Agreement to Sell Business
Vendor’s Agreement
Exclusive Distributorship Agreement
Shareholders Agreement
Consumer Complaint Letter
Power of Attorney
Company Name Change
Appointment of Auditors
Removal/Resignation of Director
GST Cancellation
GST LUT Letter of Undertaking
Conversion from Private Limited Company to Limited Liability Partnership (LLP)
Business Plan Preparation (Project Report)
Book-Keeping & Accounting
Trademark Renewal
Trademark Opposition
Trademark Rectification
Trademark Withdrawal in India
Payroll Setup & Processing
ESI Returns
PF Returns
TDS Returns Revision
Removal of Charge
Modification of Charge
MOA/AOA Printing
MOA/AOA Amendment
IEC Modification
Change of Registered Office Address
OPC to Private Limited Company
Conversion of Sole Proprietorship to OPC
Sole Proprietorship to Partnership firm
Conversion from Proprietorship to LLP
Conversion of Proprietorship to Private Limited Company
Conversion of Public Limited Company to Private Limited Company
Private Limited Company to Public Limited
Conversion of Partnership to Private Limited Company
Conversion of LLP to Private Limited Company
Conversion of Partnership to LLP (Limited Liability partnership)
Del Credere Agreement
Lease deed
TDS Returns
Strike Off OPC
Dissolution of Firms
Strike Off LLP
ESIC Registration
GST Modification
OPC Annual Filing
SSI/MSME/Udyog Aadhar Registration
Share Transfer & Transmission
Change in DIN
Add/Remove a Partner in LLP
LLP Name Change
Change in LLP Agreement
Increase in Authorized Capital
Change in Directorship
Patent Registration
Patent Search
Provisional Patent
Copyright Application
Trademark Assignment
Trademark Objections
Trademark Registration
Trademark Registration – copy
Limited Liability Partnership
Conversion into LLP