How is form 16A different from Form 16?
Form 16 mainly reflects deductions made from salary and Form 16A
shows deductions on income other than salary. The basic differences are stated
below:
- Form
16 is for salaried employees and 16A is for non-salaried individuals,
corporates or service providers.
- The
employers will provide your details in Form 16 when your gross total income
exceeds the limit of Rs.2,50,000 or the specified income tax slab, and the Form
16A is where the payer will deduct as per the income tax TDS slab from the
total amount paid to you. This gross total income will also include the income
you have disclosed to your employer as income from other heads.
- Form
16A is issued every quarter of the financial year, while Form 16 is issued
annually by the employer.
Related Articles
How to download Form 26AS
Form 26 AS can be obtained through TWO options: a) By Logging in to Income Tax Website b) By Logging in to Net Banking Option A: Download 26 AS by Login to Income Tax Website How to Download Form 26 AS | By Login to Income Tax Website Step 1: Visit ...
How can I obtain my form 26AS?
There are two ways to obtain form 26AS. Via Income Tax website Register on the website. Fill in your PAN and other details as required. Click on ‘My account’ and then ‘View form 26AS’. Once you ‘confirm’ and ‘proceed’, you can click on ‘View ...
What is Form 26AS?
Form 26AS is a statement of all the taxes you have already paid. It gives an overall view of all the TDS deducted from your income in the financial year at various sources. These could be tax deducted on salary, commission income, interest received ...
What is Form 16?
Form 16 is a certificate issued by your employer that contains the TDS which is deducted from your salary and deposited with the authorities. It also includes the other income sources of the employee and is issued every quarter. It contains all the ...
What is form 15G/15H?
Form 15G and Form 15H are forms you can submit to make sure TDS is not deducted on your income subject to certain conditions. Form 15H is for those who are above 60 years of age; while Form 15G is for others. These forms are valid for one financial ...