Form16AisaTDScertificatethatisissuedbythedeductor onaquarterlybasis.Itisastatementconcerningthe natureofpayments,theamountofTDS,andthe depositedTDSpaymentstotheIncomeTaxdepartment.
T D S C E R T I F I C A T E
Receiptsfrombusinessorprofessionfees. Rentalreceiptsfromapropertyorrent. Saleproceedsfromcapitalassets. Additionalsource.
Itcontainsthe name,TAN,and PANofthe employer.
Itcontainsthe name,TAN,and PANofthe employee. Bothofflineand onlinemodesof paymentare available.
S i g n i f i
F o r m 1 6 A
Filing of income tax returns: The details contained in Form 16A help employees file their income tax returns. It guides employees in reporting their total income, which includes salary and other sources.
Tracking of TDS: It helps every individual keep track of the tax deducted at source (TDS) on their income. It gives you a summary of TDS deducted at source.
Income Proof: Form 16A works as evidence of an individual's total earnings from other sources. Government agencies and financial institutions, like banks, easily accept this source as income proof.
Loan Applications: This form is important in verifying the loan applications. Financial institutions often need a record of the assets and liabilities of an individual to check the guarantee on loan repayment.
Belowarethe followingstepsto downloadForm16A:
Visittheofficialwebsiteoftheincometax department. Completetheregistrationprocessonthe website.
Clickthe"Download"tab,andthenselectForm 16A. FillinthePANdetails,andthenclick“Goto continue.”. ClicksubmitanddownloadForm16A.
How to download Form 16A?
01.
Form16isaTDScertificatededucted fromsalary,whereasForm16Aisissued forincomeotherthansalary.
02.
Form16isissuedbytheemployer, whereasForm16Aisissuedbyfinancial institutions.
03.
Form16isusedfordeductingtaxfrom salary,whereasForm16Aisforremoving taxesfromanothersourceofincome apartfromsalary.
D i f f e r e n c e b e t w e e n F o r m 1 6 a n d F o r m 1 6 A ?
