What is form 16 ?

form 16 is used in income tax returns. deductions that are to be made are mentioned under form 16.

Oh i dont know about the form 16.

For whom it is applicable.

It is the tax return form.Income tax returns are to be submitted in this.

Form 16 is the certificate issued to you by your employer which has all the details of salary you have earned and the tax deducted on your behalf and paid to the government. This form is very important and a must while filing tax returns.

Ideally, you should get your copy of the Form 16 by the end of April. I hope this information is helpful to you.

Dear friends

Thanks for sharing your views on form 16 but is it compulsary to fill every year for all employee for tax return.

Even I also don't know about it, but i heard about it. thank you for your explanations friends

Thanks you all for giving a lot information about form 16.Who is tax payer can give the return in form 16.

Dear friends

Thanks for sharing your views on form 16 but is it compulsary to fill every year for all employee for tax return.

i think any person earning above the stipulated amount per year is supposed to file his returns compulsively.

[quote]Dear friends

Thanks for sharing your views on form 16 but is it compulsary to fill every year for all employee for tax return. [/quote]

Santosh it is compulsory for every person to file his income tax returns every year. If you are an employee of a software company, this is usually taken care of by the company-attached CA firm, at least where I used to work, it was taken care of by our company's CAs, we only had to fill out the prescribed form given to us.

You will actually pay taxes only if your earnings are above the exemption limits.

Form 16 is mostly used for the job holders. especially while they changing their job