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  7. Form 16 Password - What is the Password for TDS Form 16 and How to Open Form 16 Password?

What is the Password for TDS Form 16 and How to Open Form 16 Password?

Updated on: 23 Jul, 2024 04:08 PM

When it comes to income tax compliance in India, Form 16 is of great significance for employees and employers alike. This certificate serves as a comprehensive record of tax deductions made by the employer and acts as proof of income for the employee. However, it is important to note that Form 16 generally comes password-protected. If you have received a password-protected Form 16, you may be wondering how to open it. In this article, we will guide you through the process of opening protected Form 16 and provide you with additional information.

Contents

Budget 2024 Update

FM Nirmala Sitharaman has made two announcements for those opting for the new tax regime.

First, the standard deduction for salaried employees is proposed to be increased from Rs 50,000/- to Rs 75,000/-. Similarly, deduction on family pension for pensioners is proposed to be enhanced from Rs 15,000/- to Rs 25,000/-.

Second, in the new tax regime, the tax rate structure is proposed to be revised, as follows:

  • 0-3 lakh rupees - NIL tax
  • 3-7 lakh rupees - 5% tax
  • 7-10 lakh rupees - 10% tax
  • 10-12 lakh rupees - 15% tax
  • 12-15 lakh rupees - 20% tax
  • Above 15 lakh rupees - 30% tax

As a result of these changes, a salaried employee in the new tax regime stands to save up to Rs 17,500/- in income tax.


What is Form 16?

The employer provides form 16 to employees which contains the TDS deducted information along with many other information such as salary income, investment declaration, deduction allowed, and other information of the employer and employees. Form 16 comes in two parts, Part A and Part B. Form 16 is a crucial document for salaried individuals and is required at the time of filing Income Tax Returns.

How to Get Form 16?

If you haven’t received Form 16, you can ask for it from your current employer or the previous employer if you have switched employment in the middle of the financial year or if you have left your current employer.

Note: No employer can deny providing you with Form 16 if he has deducted any TDS from your salary.

How to Download Form 16?

Step-by-step guide on how to download Form 16 online:

  • Go to the TRACES portal of the Income Tax Department.
  • Log in using your User ID, PAN details, and password. Enter the captcha code.
  • After logging in TRACES portal, click on the 'Downloads' tab and select 'Form 16'.
  • Choose the relevant assessment year for which you need Form 16.
  • Verify your name and PAN details to ensure they are correct.
  • Enter the TDS receipt number.
  • Select the date of TDS deduction and enter the total tax collected and deducted.
  • Submit Form 16 for download.
  • Under the 'Downloads' tab, click on 'Requested Downloads.'
  • Once the status of Form 16 Part A and Part B shows as 'Available', you can download the files in PDF or HTTP format.

What is Form 16 Password Format, and How to Open it?

Form 16 is a Tax deducted at source certificate and password-protected. Decoding Form 16 password is easy and simple; the password of Form 16 is generated using the employee's basic details. The Form 16 password is a combination of the first five characters of your PAN number in capital letters and your date of birth in the format of DDMMYYYY. For instance, if your PAN number is CMDPP1234B and your date of birth is March 16, 1994, then the password for your Form 16 would be CMDPP16031994.

Form 16 is an important document for filing your income tax return, as it contains all the essential details for accurate reporting. It shows your income, the tax deducted at source by your employer, and other relevant information. Form 16 makes the filing process easier and faster, as it has all the necessary information for correctly calculating your income and taxes paid.

How to Remove the Password from Form 16?

Entering the password every time you open Form 16 or any password-protected PDF file could be unpleasant, i.e., saving Form 16 or any PDF file without a password could save time and effort. The password can be removed from a PDF file following these steps:

  • Right-click on the Form 16 PDF file and open it using Google Chrome or Microsoft Edge.
  • Enter the password in the specified format and click on the submit button.
  • Once the PDF file is open, you will see the printer option in the upper right corner of the screen. Click on the printer option or use the shortcut Ctrl + P.
  • The print window will appear, providing an option to change the destination.
  • Change the destination to "Save as PDF."
  • Click on the "Save" button below and choose the desired location to save the PDF file.
  • the password will be removed from the Form 16 document by saving the file as a PDF.

However, it is important to note that removing the password can change the format of the file and render it unreadable in different software.

Frequently Asked Questions

Q- What is the purpose of Form 16?

This is a document that employers give to their employees. It shows how much TDS was taken out of the employee’s salary. The employee then gives this document to the income tax department. It explains how the tax was calculated and deducted from the employee’s income.

Q- When can I expect to receive Form 16 from my employer?

The employer has to issue Form 16 to their employees by June 15th, after the financial year ends on March 31st. Part A of Form 16 can be generated and downloaded from the TRACES Portal of the Income Tax Department; only employers can download it from the portal.

Q- Do employers have to issue Form 16 to their employees who pay taxes?

Form 16 is a document employers must provide to employees with TDS deducted from their income. Employees who do not have TDS deducted and whose income is below a certain tax slab are not required to obtain Form 16.

Q- What is the password for Form 16?

The password of Form 16 consists of the first 5 characters of the employee’s PAN number in uppercase and their date of birth in the Format DDMMYYYY. For example, if your PAN number is DRFIX1246D and your date of birth is 6-12-1996, then your Form 16 password will be DRFIX06121996.

Q- When is Form 16 generated?

Employers are required to issue Form 16 by the 15th of June at the end of every FY. The employer can generate and download Form 16 through the TRACES portal.

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CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2Win.in. Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.