What is Form 16?

Form 16 is a certificate issued by an employer to their employees that provides a summary of the salary earned, deductions made, and the tax deducted at source (TDS) on the income. It serves as proof of TDS for the financial year and is essential for employees while filing their Income Tax Returns (ITR).

How is Form 16 Useful?

Assists in Income Tax Filing

Form 16 provides all the necessary details regarding your income, TDS, and deductions, making it easy to file your Income Tax Returns (ITR) accurately.

Proof of TDS Deduction

It acts as proof that TDS has been deducted and deposited with the government on behalf of the employee.

Helps in Planning & Tax Savings

With details on exemptions and deductions, Form 16 aids employees in understanding their tax liabilities and planning their investments to maximize tax savings.

Verification of Salary Income & Tax Paid

Employees can verify their salary breakup, tax computation, and deductions with the information available in Form 16, ensuring accuracy.

"Accurate TDS filing, timely compliance—get professional TDS services with Care Corporates."

• For Employers:

  • Generation & Issuance of Form 16: We assist employers in accurately generating and issuing Form 16 for their employees as per regulatory requirements.

  • TDS Computation & Reconciliation: Ensuring that TDS is accurately calculated, deducted, and deposited, and reconciling it with employee salary details.

  • Compliance Support: Providing support in complying with the Income Tax Act and issuing Form 16 within the prescribed timelines.

• For Employees:

  • Verification & Review of Form 16: Reviewing your Form 16 to ensure that all details are accurate, and the TDS deducted matches your salary.

  • ITR Filing Support: Assisting with Income Tax Return Filing using the details provided in Form 16, ensuring accurate and timely compliance.

  • Rectifications & Amendments: Helping with any discrepancies, amendments, or corrections required in your Form 16.

Our Services for Form 16

Need Help with Form 16?

Whether you're an employer needing to issue Form 16 or an employee looking to file your ITR, Care Corporates is here to assist you. Contact us today to streamline your Form 16 generation and filing needs.

Schedule a Free Consultation today to learn more about how we can help you get started.