How to fill Form 16 for salary with example?

If you are a salaried employee, you must be aware of the Form 16. It is a Tax Deducted at Source certificate verification form which is issued to the employees by their employers. Every financial year, the form 16 is provided by the employer. There are two forms in form 16, form 16A and Form 16B. In this answer I will get you both the forms and tell you how to fill form 16 for salary with example. 

Part A for Form 16 has the details of the quarterly deposited TDS, TAN of employer, name and address of  the employer and employee, and PAN of employee.

Form 16B has the complete break up of salary, other income sources and amount declared by the employee, deductions under chapter VI A, Relief under section 89, tax deducted at source, and net income tax payable or refundable.

For salary, you will have to fill Form 16B. Your employer must have asked you to declare your investments and income from other sources. You are required to provide that information so that your Form 16B is pre-filled and you just have to check and verify those details. In form 16B, this is what you can fill:

• Your gross salary 

• Deductions such as professional tax, standard deduction

• Deduction under chapter VI A

1. Deduction for life insurance premium paid, contribution to PPF etc., under Section 80C

2. Deduction for contribution to pension funds under Section 80CCC

3. Deduction for employee’s contribution to pension scheme under Section 80CCD(1)

4. Deduction for taxpayer’s self contribution to notified pension scheme under Section 80CCD(1B)

5. Deduction for employer’s contribution to pension scheme under Section 80CCD(2)

6. Deduction for health insurance premium paid under Section 80D

7. Deduction for interest paid on loan taken for higher education under Section 80E

8. Deduction for donations made under Section 80G

9. Deduction for interest income on savings account under Section 80TTA

• Total taxable income

• Rebate

• Tax after rebate

• Tax payable/refundable

Usually, your company’s finance department takes care of the Form 16B but if you want to fill the particulars or make any changes, you will have to take care of and declare your income and investments carefully. 

I hope

how to fill form 16 for salary with example is clear to you now.

Find the sample Form 16B in the attachment below.

Let me tell you the process for

how to fill form 16a online

. Form 16 consists of two parts: Part A and Part B.

• Provide the personal information such as name and address, PAN details and employer’s name and address.

• Provide the details of the salary paid during the financial year. It includes gross salary before any deductions, value of perquisites, profits in lieu of salary, deductions under section 16, entertainment allowance.

• Calculate the total taxable salary and total tax on the taxable salary. Deduct the TDS and provide details of TDS.

• Provide the employer's TAN and mention the Assessment Year.

• You can also

  include any other relevant information, such as any deductions claimed or any additional income.

• Your employer should sign and provide their designation, and seal.

• Next, you should verify the information provided and sign it to finish

  form 16 how to fill steps.

This is how to fill

form 16 b for salaried employees

.

 Read more

It is very easy to fill the 16B Form. It is a certificate issued by the buyer of immovable property to the seller as per the provisions of Section 194IA of the Income Tax Act, 1961. I also did not know how to fill form 16 online but now I am well aware. Before sharing the process, let me also inform you that you have to download the form from the download options after logging into the

. 

Is there any sample form 16 for salaried employees?

This is how I got an idea about how to fill the 16B form online. The form looks like this-

• Once you download the form, you will understand how to fill form 16b for salary with example. You will need to fill some important details like

• Name and address of the Deductor (Transferee/Payer/Buyer)

• Name and address of the Deductee (Transferor/Payee/Seller)

• Permanent Account Number or Aadhaar Number of the Deductor

• Permanent Account Number or Aadhaar Number of the Deductee

• Financial Year of deduction

• Amount Paid/Credited

• Unique Acknowledgement Number

• Date of payment/credit (dd/mm/yyyy)

• Amount of tax deducted and deposited in respect of the deductee and more

If you ever feel confused, seek an expert’s help. After filling it out 1 or 2 times, I assure you that you will face no difficulty.

Read More:

Employees in the country who get salaries are given Form 16 by their employers. It includes all the data that you will need to submit your income tax returns to the Indian Income Tax Department. That’s why I just wanted to show you what to include in Form 16 sample.

How to fill up Form 16?

• This shows the year of assessment, or to put it another way, the year in which the taxpayer must file their tax return. For example, the assessment year for income received between April 2018 and May 2019 will be 2019–20.

• The amount of time the employee was employed by the firm during the specific financial year.

• An overview of the compensation received

• The day that tax was subtracted

• This tells you how to fill Form no 16 of income tax.

What are the qualifications for Form 16?

• Every salaried individual who falls under the tax band is qualified to receive Form 16 according to the rules laid out by the Finance Ministry of the Government of India.

• Any employee who does not fall inside the tax bracket is exempt from having TDS deducted from their pay. As a result, the employer is not required to give the employee a Form 16 in this situation.

• Form 16 is now frequently provided by corporations in this situation because it provides a complete view of earnings and serves additional purposes.

Now you know about the Form 16 sample.

Hey friend,

If you are a part of the workforce, you should be cognizant of the various income taxes that need to be paid. According to the Finance Ministry of the Indian Government, 

Form 16 a for salaried employees needs to be filled if your income falls under the taxable bracket. If your income does not fall under the stipulated tax bracket, you need not fill out Form16. 

You will need to know the following details before filing form 16:

• Slot No or S. No.

• The amount credited/ paid

• Date of credit or payment

• Tax deducted at the source

• Surcharges

• Education Cess

• Total tax deposited to the Income Tax Department.

• Cheque number or Demand draft number if any

• BSR code of the bank branch

• The date on which the tax was deposited in DD/MM/YY format

• Challan identification number/ transfer voucher

• You will need to enter the Deductor's name and address.

• Then, mention the PIN (Postal Index Number) 

• Fill in the TAN number (an alphanumeric number with the first 4 digits in the alphabet and 5 in digits and 1 in the alphabet)

• Enter the acknowledgement number, and nature of the payment.

• Enter the corresponding codes to the payments. 

• Mention the Name, and PAN number of the deductee whose TDS has been deducted.

• Mention the financial year 

• In the end, write the TDS amount in words. 

Make sure all the information shared by you is factually correct, especially the amount of income, and TDS deducted. Since the form is given by the employer, you will not get to access Form 16 fill up samples. In case you make a mistake while filing the form, contact your organisation’s HR/Payroll/Finance department. 

If you need more information on Form 16 a for salaried employees, leave a comment below!

I remember when I started getting frequent reminders from the IT Department to file my income tax returns on time last year. Form 16 is one financial document that I came across when filing my ITR (income tax return). I asked my CA friend to help me fill my Form 16B for salary along with Form A.

Form 16 includes the details you are required to prepare and file your ITR. It has 2 prominent components – Part B and Part A, which reflect most of your details bifurcated into parts.

It contains basic details of the Employer and the Employee like

• Name of the employee

• PAN of the employee

• Address of the employee

• Name of the employer (tax deductor)

• PAN of the employer

• Address of the employer

• It also includes details of how much tax was deducted, dates when the amount was deposited with the Central Govt. A/c, and details of the Challan issued by the govt.

It includes a detailed breakdown of how your tax was computed keeping into consideration the investment declaration you made at the beginning of the F.Y. and the investment proof submitted afterward. It also contains details of other allowances that your employer gave to you, which may be required for tax computation purposes. All other details like EMIs paid towards your housing loans, medical bills, house rent, and donations exempted from taxation that you may have furnished to the employer. The details include:

• Gross salary

• Allowances exempt under section 10

• Tax on employment

• Deductions under section 80C, including (the list isn’t comprehensive) details, such as tax saving mutual funds (ELSS), Life Insurance Plans, National Saving Certificate, Provident Fund (EPF/PPF) Housing Loans, and other investments in tax saving schemes

• Deductions under other sections (80G, 80E, 80TTA), which include (not limited to) medical claims, donations exempt under section 80G, National Pension Scheme, and others

• Tax on total income

• Any cess levied (such as Swachh Bharat cess, education cess, etc.)

• Any surcharges

• Any rebate on tax

I am also attaching a Part B of income tax Form 16 filled sample for your reference.

I hope you liked my answer on Form No 16 fill up example.

This is all on Form A and Form 16B for salary.