What is the difference between Form 16 and Form 16 A

Form 16 is the form issued to you by your employer if your income exceeds minimum tax exemption limit, that is Rs 2,50,000 - if you are less than 60 years old, and tax deducted at source (TDS) is deposited with the income tax department by your employer.

If your earnings fall below the minimum exemption limit, your employer cannot TDS and thus may not issue you Form 16. If you have changed jobs during a given year, you should get Form 16s from each employer.

You can upload Form 16 at AllIndiaITR and get further assistance from our tax experts.

By means of Form 16, the employer confirms the accuracy of your salary information and the amount of TDS deducted. There are two parts here - Part A and Part B. Part A has details about the employee and employer, such as name, address, PAN and TAN details, duration of employment, TDS deducted amount, etc. Part B contains details of salary paid, other earnings, permitted deductions, tax payable, etc.

 

Another similar TDS Certificate is the Form 16 A. Unlike Form 16, Form 16 A becomes eligible if TDS is deducted on income from sources other than salary. For instance, a Form 16 A can be obtained if a bank deducts TDS on your interest income from fixed deposits, on insurance commission, or on your rent receipts. Form 16 A also has details like your name, address of deductor/deductee, PAN/TAN details, challan details of TDS deposited, etc.

 

So, don’t forget to upload Form 16 if you are eligible for TDS deduction. The forms mentioned above are very important. They also help you file your return in an organized manner and easily.