What is Form 16?
What is Form 16? All About Form 16 ABOUT FORM 16: Form-16 is basically a TDS Certificate issued by the Employer having details of Employee’s Income & Deductions. This Form-16 is needed to be issued mandatorily by the employer to those employees whose TDS is deducted under Sec 192 of Income Tax Act,1961. It is a primary document for filing Return of Income of Employees/Salaried Individuals. FILING OF RETURN OF INCOME WITHOUT FORM 16: As it is compulsorily required to be issued by the Employer in respect of those employees whose TDS has been deducted u/s 192. But TDS u/s 192 is required only if income is more than the Basic Exemption limit (250000), otherwise, there is no requirement of TDS Deduction u/s 192. In this case, where income is less than the basic exemption limit, your employer may not issue you FORM-16. If your salary is liable for TDS deduction due to your income exceeding 2.5 Lakhs & still your employer has not issued you a FORM-16, then there are penalty prov...