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What is Form 16?

Asked 2019-03-14 22:03:46 by Pari Pillai

Answered by NewsBytes

Form 16 is the TDS certificate issued by an employer. As per the Income Tax Act, when employers deduct TDS on salaries, they are required to issue a certificate in which details of the tax deducted and deposit is certified.

Have TDS slabs on interest income, rental income been raised?

Asked 2019-03-14 22:03:46 by Hansika Mistry

Answered by NewsBytes

For the benefit of people, especially pensioners, during the Interim Budget 2019, TDS threshold on interest on bank/post-office deposits was proposed to be raised from Rs. 10,000 to Rs. 40,000. No tax would be deducted for interest income of up to Rs. 40,000. TDS slab for income through rent is proposed to be raised to Rs. 2.4 lakh from the existing Rs. 1.8 lakh.

How to download Form 16?

Asked 2019-03-14 22:03:46 by Arjun Bose

Answered by NewsBytes

Your employer is responsible to provide Form 16 to you. In case you didn't get it, you can download it by using the following steps: visit the official website, and log in using your credentials. Now go to the 'download' tab and select the form 16 to download it.

Will I get Form 16 from my employer even if there is no TDS?

Asked 2019-03-14 22:03:46 by Dhruv Malik

Answered by NewsBytes

Form 16 is a TDS certificate & it is issued only when there is tax deducted. Therefore, if there is no tax deducted, employer is not required to issue Form 16 to you. Purpose of form 16 is to serve as a proof of tax deducted & deposited on your behalf.

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