Form 16 is the TDS certificate that an employer issues to an employee. When an employer deducts TDS from employees' salaries, the Income-tax Act requires a certificate to be issued by the employer, where the details of the tax deducted and deposited are certified.
Form 16 Part B provides information about an employee's income, deductions, exemptions, and tax liability. After filing Form 24Q, if the admin makes any changes in salary/income tax, the changes do not match with the Income Tax Statement. In this case, the admin must refer to Annexure 2.
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▶Video - To watch the video on Form 16, click here.
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