ITR filing FY2023-24: Did you get your Form 16? How to download Form 16

For salaried taxpayers, Form 16 is one of the most important documents to file an income tax return (ITR). Form 16 comes under section 203 of the Income-tax Act, 1961. Form 16 is a certificate that your employer issues every year mentioning a detailed salary of how much salary you have earned during the financial year and how much tax deducted at source (TDS) has been deducted from your salary.

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Each salaried employee can obtain Form 16 from the employer on or before June 15 of the assessment year for which the income tax return is being filed. For example, for the financial year 2023-24 (assessment year 2024-25), Form 16 should be issued by 15th June 2024.

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Form 16 has two segments — Part A and Part B. Part A comprises of employee and employer basic details such as employer’s name and address, employee’s name and address, Permanent Account Number (PAN) of both, employer’s Tax Deduction Account Number (TAN), employee’s period of employment with the current employer, and others. Part A also contains details regarding the assessment year (AY), tax deducted, and the dates when the amount was deposited with the central government, and details of a challan issued by the government.

Part B of Form 16 contains details that you will need to file an Income Tax Return(ITR), such as salary paid, other income, tax deducted, and more.

Form 16 serves as proof that the employer has deducted TDS from your salary and deposited it to the Income Tax Department.

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Every salaried employee whose tax has been deducted is eligible to get a Form 16 from the employer. When an employee’s salary does not fall within the taxable bracket, TDS is not deducted by the employer. However, certain employers still issue Form 16 to such employees as a good practice.

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Form 16 is a TDS certificate issued by your employer. Only your employer can issue your Form 16. So, you cannot download Form 16 from any other website.

You have to check with your employer to get your Form 16. Usually, employers send a mail to all employees with a PDF of Form 16 or details from where they can download it.

There is a misconception that Form 16 can be downloaded from the TRACES website but this is not true. Form 16A and Form 16B can be downloaded from the TRACES website but not Form 16.

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