How to download Form 16 from an income tax website is a frequent question for taxpayers. The procedure is more straightforward through the government portal than it seems. Employers provide employees with Form 16 certificates. It verifies that employee TDS has been deducted and remitted to the government. It details employee salaries and TDS deductions.
️What is Form 16 in income tax?
The data required to complete and submit your income tax return is on Form 16. It displays the breakdown of pay income and the employer’s TDS deduction. Part A and Part B are their two parts (discussed in detail below).
Immediately following the fiscal year in which the tax is withheld, employers must issue it on or before June 15th of each year. If you misplace it, you can ask your employer for a replacement Form 16.
Form 16’s Part A
Details of TDS deducted and deposited quarterly and information on the employer’s PAN and TAN are provided in Part A of Form 16.
An employer can generate and download this section of Form 16 via the TRACES portal (https://www.tdscpc.gov.in/app/login.xhtml). Before issuing a certificate, the employer must verify its information.
Each employer will issue Part A of Form 16 for the term of work separately if you change jobs within a fiscal year, which is essential to mention. Part A’s requirements are as follows:
- Address and name of the employer
- Employer’s TAN and PAN
- PAN of the worker
- Summary of quarterly taxes withheld and deposited, as attested by the employer
Form 16’s Part B
Annexed to Part A of Form 16 is Part B. Part B, which the employer must provide for the employees, comprises information on how the salary and deductions permitted under Chapter VI-A are broken down.
Take Form 16 from both employers if you change jobs during a fiscal year. Part B includes some newly-notified parts, including:
- Comprehensive salary breakdown
- Exempted allowances under Section 10 are broken down in detail.
- Benefits of Section 89
- Deductions permitted by Chapter VIA of the Income Tax Act include:
The following is a list of the deductions mentioned:
- Deductions under Section 80C for life insurance premiums paid, PPF contributions, etc.
- deduction for pension fund contributions made per Section 80CCC
- Section 80CCD deduction for employee contributions to a pension plan (1)
- deduction under Section 80CCD for a taxpayer’s self-contribution to a notified pension plan (1B)
- deduction for an employer’s pension plan contribution under Section 80CCD(2)
- Health insurance premiums paid under Section 80D are deductible.
- Section 80E deduction for interest paid on loans acquired for higher education
- Donations made per Section 80G are tax deductible.
- Section 80TTA deduction for interest earned on savings accounts
Can we download Form 16 online?
Form 16 contains a variety of information, such as the following:
- All Section 10 advantages and exemptions
- the whole of your taxable salary
- Any revenue from the property investment during the assessment year is withheld together with information on all of the deductions under Section 16 TDS.
- TDS is also deducted from other income types throughout the assessment year.
All deductions made per Sections 80C, 80CCD 1 and 2, 80CCC, 80D, 80CCD 2 and 1, and 80E are covered by the information on each deduction permitted under Chapter VI-A of the 1961 Income Tax Act.
The following details are needed to complete Form 16 and file your ITR:
- TDS of employer
- Company’s TAN number
- Address and name of the employer
- PAN number of the company
- Name and address of the taxpayer
- current assessment period
- employee’s PAN number
Notably, you are still obligated to file your income tax return even if your employer does not withhold income tax at source or does not supply Form 16. Requesting Form 16 from every employer on time is beneficial if you have worked for several months for a fiscal year.
How to generate Form 16?
Step 1. Go to the TRACES website (www.tdscpc.gov.in) and log in by providing the TRACES website with a user ID, a password, the TAN of the deductor, and a verification code.
Step 2: If you want to produce Form 16-A, you must first check the status of your TDS return 24Q4 before you can do so. Only when the statement status is either “Processed with Default.” or “Processed without Default.” will a request for Form 16-A be sent in. You have to go via a statement status tab immediately placed under the Statement/Payment Tab to check the statement status. After that, you have to pick the form type and the Financial Year.
Step 3: Under the Downloads tab, click the Form 16 option.
Step 4: Choose the fiscal year you wish to download Form 16-A and pick the “Search PAN Download” or the “Bulk PAN download” option.
*Search PAN Download allows you to download Form 16 Part A for a limited number of valid PAN holders. *Bulk PAN Download allows you to obtain Form 16 Part A for all eligible PAN holders for the current fiscal year.
Step 5: The screen will display the details of the Authorized People that will be printed on Form 16-A; all you need to do to go on to the next step is click the “Submit” button. If you wish to make any modifications, you may do so by clicking “Cancel” and then updating the data in the profile area.
Step 6: Complete the KYC data by selecting either the Digitally Supported KYC or the Standard KYC validation option.
*Digital Supported KYC is only considered legitimate provided the deductor possesses a valid digital signature registered with TRACES. *
A normal KYC validation may be used if the digital signature is not registered with TRACES.
Upon the successful submission of the necessary KYC information, an authentication number will be produced. This code will only be valid for the current calendar day, fiscal year, and quarter.
Step 7: The next step involves generating a one-of-a-kind request number that may be used to monitor the progress of the request. Moreover, to download Form 16-A, the page’s status must first be “Available.”
Step 8: You may now download Form 16 Part-A by going to Download and clicking Requested Download. You can also use Download Manager or HTTP Download to get the file.
Step 9: Choose the type of download you want to use based on the number of files you need to download. Use HTTP download if you need to download a few files, and use a download manager if you need to download many files.
Step 10: If you wish to convert Form 16-A to PDF format, you will need to download the Form 16 PDF conversion tool 1.4L.
Step 11: To produce Form 16-A in PDF format, you must run the setup of the Form 16 PDF converter program version 1.4L.
FAQ- How to download form 16 from income tax website
1. Can I download Form 16 anytime?
Form 16 is an employment document that your employer can only download and give you. Nobody can download their own Form 16, no matter who they are. A widespread misunderstanding perpetuates the idea that a person may obtain Form 16 from the TRACES website by providing their PAN number.
2. Are the salary certificate and Form 16 the same?
Employers must provide their staff members with a copy of Form 16 to comply with the restrictions outlined in Section 203 of the Income Tax Act of 1961. The wage certificate can also be referred to as Form 16. It provides all you need to know about your pay during the year’s fiscal period. In addition, it provides information on the taxes withheld at the source (TDS).
3. How can I check my Form 16 online?
Yes, on the government website, you can log in and check the authenticity of the form.
4. Can we download Form 16 using the PAN number?
Using your PAN number to download Form 16 is one of the most straightforward methods. The following is a list of the steps: Check out the webpage for TRACES. Enter your User ID, password, PAN, or AIN to access the PAO system.
Companies utilize Form 16 to advise salaried employees about income tax deductions. Form 16 is your employer’s certificate of pay and TDS deductions for a given year. Salaried people need Form 16 for taxation. And you can download it easily simply by following the mentioned steps in this article.
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