FORM 16 is a TDS certificate provided by the employer. If your employer is deducting TDS from your salary, he is obligated to provide you a Form 16 as per the Income Tax Act. Unfortunately the Form 16 cannot be downloaded anywhere else.
If you have switched jobs in the middle of the year, you will get a Form 16 from your previous employer and your current employer.
For single stream income – only salary
Your employer most likely deducts tax at the source of your income Tax Deduction at Source (TDS), which is your workplace. In such cases, your employer is obligated to present you with a TDS certificate at the end of the year, which is essentially your Form 16.
Its always a good idea to cross check the validity/correctness of the Form 16/ Form 16A by also downloading Form 26AS from the Income Tax Website as this will allow you to cross check whether the deductor/your employer has actually deposited the said TDS.
For multiple income streams
In case of multiple sources of recurring income (e.g. freelancer or equity investments) then your various sources of income will also be subject to TDS which you must double-check
using Form 26AS. For individuals with multiple employers as may be the case with freelancers or people who have switched jobs, you will have more than Form 16 for the
The Form 16 will contain the following –
A. PART A – A valid Form 16 must contain the logo of the TDS/ Traces
1. TAN (Tax deduction and collection number) of the employer
2. PAN of employer
3. PAN of employee
4. Address of employer
5. Address of employee
6. Assessment year
7. Period you have spent with the employer (incase less than one year or full year)
8. Book entry details of TDS amount deposit done without a challan in case of an office of the GOI (Government of India)
Challan details of tax deducted from income and filed with the GOI on a quarterly basis in case of a non-government deductor/employer. Monthly particulars of the tax deducted and deposited is also provided.
B. PART B is essentially an annexure issued by your employer detailing
1. Income chargeable under the head “Salaries”
3. Taxable Income
4. Tax Payable or Refundable.
and is also essential for determining your final tax liability.
Do note that an employer is obligated to provide you with a TDS certificate a.k.a Form 16 if he is deducting taxes from your salary. If TDS is being deducted from your salary but no Form 16 has been provided the employer can be subject to penalties.
As long as your yearly income is above the Rs. 2,50,000 you are required to pay taxes, therefore tax filing and compliance is your prerogative and not your employers, irrespective of whether he deducting TDS or not.
Where I can download my Form 16
FORM 16 is provided by the employer. If your employer is deduction TDS from your salary, he is obligated to provide you a Form 16 as per the Income Tax Act. Unfortunately the Form 16 cannot be downloaded anywhere else.
If you have switched jobs in the middle of the year, you can get a Form 16 from your previous employer and your current employer. Part B of Form 16 can be provided by your current employer but whether you want your previous employers to provide a part B is entirely optional.