![]() ![]() This information is correlated with the information published by the employees when they file their tax returns. With the help of this return in summary form, the IT Department is able to know particulars of employees who worked under that employer. It is issued by an employer to an employee at the end of every financial year detailing therein salaries earned by him during that year, the savings done by him which are permissible deductions under Section 80C of the Act and the income tax deducted from him during the year and deposited in Government accounts.Ī summary of details of such forms issued by every employer is sent to the Income Tax Department at the end of the year, detailing therein the employees name, his PAN, his emoluments, the tax deduction from him and deposited in Government accounts at the end of the financial year (before 30th June of succeeding year). Form 16 Salary Certificate Form 16 is issued under Rule 31(1)(a) of the Income Tax Rules issued by the Government of India under the Income Tax Act, 1961 provisions. You can calculate your net income tax payable using this Form 16 in Excel format. ![]()
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