FORM 16 & 16A ISSUANCE

Form 16 and Form 16A are certificates issued by employers or deductors in India, providing details of the tax deducted at source (TDS) from an individual’s income.

  1. Form 16:
    • Issued by: Employers to employees.
    • Contents: It includes details of salary income, tax deducted, and any exemptions claimed by the employee. It is primarily for salaried individuals.
    • Purpose: Used by employees for filing income tax returns and to declare their income from salary.
    • Issuance Deadline: Employers are required to issue Form 16 on or before June 15th of the assessment year.
  2. Form 16A:
    • Issued by: Deductors (other than employers) to deductees.
    • Contents: It provides details of TDS on income sources other than salary, such as interest, commission, etc.
    • Purpose: Used by deductees for filing income tax returns.
    • Issuance Deadline: Form 16A should be issued within 15 days from the due date for furnishing the TDS statement.