Form-16 is a very popular financial document that you must have heard while filing income tax returns. Form-16 is a certificate issued under Section 203 of the Income Tax Act that contains details of deduction and deposition of the total tax deducted from salary by the employer and submitted to the the Income Tax Department.
Details of TDS deducted and the details of salary, exemptions for allowances (like HRA, LTA, etc) & deductions are mentioned in Form-16 (Part B).
It is given after the end of financial year and helps you file your income tax return.
Form 16 might differ in formats depending upon employer to employer but a standard form 16 looks like the image provided below :-
Part A of FORM 16 contains details of tax which is deducted from your income by the employer while Part B gives the detailed breakup / composition of your income details and deductions etc
