answersLogoWhite

0

What is form 16 in income tax?

Updated: 9/14/2023
User Avatar

Wiki User

12y ago

Best Answer

It is certificate issued by the employer to employee stating the details of income earned and the tax deducted on his behalf and paid to the government. Every employee who is subjected to TDS is supposed to receive their Form 16 from his/her employers. As per the government regulations, there are certain deadlines by which you must receive your Form 16 but in many cases employers don't hand out the form 16's on time. Nonetheless, as long as we get the form 16 at least a month before the tax-filing deadline, we must be good.

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is form 16 in income tax?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Is form-16 and ITR1 both are same?

No. Form 16 is something your employer gives you. ITR1 is the document you submit the income tax department to file your tax returns


Does an Indian professional need form 16 in US?

No. Form 16 is only for income tax in India. For US it is a different document.


How can you submit Form 16 online to your India tax forms?

Form 16 is Certificate under Section 203 of the Income-Tax Act, 1961 for Tax Deducted at Source on Salary. Form 16 is a certificate that your employer gives you as proof that tax was deducted at source from your income during the year.As of July 2008, even if you're filing electronically, you no longer need to attach Form 16 to your tax return. The Central Board of Direct Taxes requires only Trusts to attach Form 16 to their return (Form ITR-7).The Central Board now maintains an online Tax Deducted at Source account for each taxpayer.


need arizona state income tax form?

need arizona state income tax form


PRINTABLE PENNA STATE INCOME TAX FORM?

PRINTABLE PENNA STATE INCOME TAX FORM


What is form 16 in terms of income tax?

It is certificate issued by the employer to employee stating the details of income earned and the tax deducted on his behalf and paid to the government. Every employee who is subjected to TDS is supposed to receive their Form 16 from his/her employers. As per the government regulations, there are certain deadlines by which you must receive your Form 16 but in many cases employers don't hand out the form 16's on time. Nonetheless, as long as we get the form 16 at least a month before the tax-filing deadline, we must be good.


What direct tax is provided for by Amendment 16?

The income tax.


What is the Income Tax Form number for the State of Georgia Thank you.?

The Georgia State income tax forms are as follows: Form 500: Individual Income Tax Return, Form 500-EZ: Short Individual Tax Return, Form 500-X: Amended Individual Tax Return


Why form 16 is necessary?

It is necessary because, it is the document that outlines your income and tax liabilities.What is this Form 16?It is certificate issued by the employer to employee stating the details of income earned and the tax deducted on his behalf and paid to the government. Every employee who is subjected to TDS is supposed to receive their Form 16 from his/her employers. As per the government regulations, there are certain deadlines by which you must receive your Form 16 but in many cases employers don't hand out the form 16's on time. Nonetheless, as long as we get the form 16 at least a month before the tax-filing deadline, we must be good.


From which form government gets more Income?

income tax


What form do you file when filing for the state income tax return?

When you are filing for the state income tax return, you will fill form 1040.


Is Income from illegal activities is not assessable to income tax?

ALL income form any source should be considered when calculating income tax.