When your company deducts taxes from your pay, they issue you a certificate called Form 16. Before submitting your tax return, verify the Form 16 you got is valid and in the correct format. Verify the validity of the digital signature on your Form 16. Comparable to online signatures, digital signatures require verification via the use of a Digital Signature Certificate that has been granted by a recognized authority.
Parts Of Form 16
Section A includes information such as your PAN (Permanent Account Number), employer’s name, address, and other facts. Additionally, a summary of the taxes withheld from your salary every quarter, verified by your employer, is provided.
Section B contains more specific information about your income, including any deductions you’ve made for things like PPF (Public Provident Fund) or Tax Saving Fixed Deposits, as well as allowances like House Rent Allowance and Leave Travel Allowance. To make sure that you’re correctly reporting your income and deductions when you file your taxes, you must comprehend both sections of Form 16.
Steps To Verify Validity Of Form 16
- Step 1: Visit the website www.tdscpc.gov.in.
- Step 2: Use your PAN to access your account and log in.
- Step 3: Type the Captcha code in and select “Proceed.”
- Step 4: Choose “View Form 26AS” from the “My Account” option.
- Step 5: The web page for TRACES will appear. On the ‘View/Verify Tax Credit’ page, select ‘Verify TDS certificate’.
- Step 6: Enter the necessary information, including the “tDS certificate number,” “TAN of the deductor,” “PAN of the taxpayer,” “financial year,” “source of income,” and “tDS amount deducted as per certificate.”
- Step 7: To continue, click “Validate” at the end.
An alternative method of checking TDS/TCS credit is to enter certain information, including the “PAN of Deductee,” “TAN of Deductor,” “Financial Year,” “Quarter,” and “Type of Return,” and then click “Go.”
How To Get Form 16 Online?
- Step 1: Visit the Income Tax Department website at https://www.incometaxindia.gov.in/Pages/default.aspx.
- Step 2: Open “Forms/Downloads” from the main menu.
- Step 3: Select “Income Tax Forms” from the option list.
- Step 4: From the “Frequently Used Forms” area, find and pick the “Form 16” option.
- Step 5: Select the financial year you want to download Form 16 for.
- Step 6: Click on your preferred format, “PDF” or “Fillable Form,” which are both available under Form 16. The next window will open with the form for download.
