Business Desk, New Delhi. Salaried persons need Form-16 while filing Income Tax Return ( ITR ). Form-16 is a very important document for ITR. Today we will tell you what are the rules of the Income Tax Department for Form-16 and what information is included in Form-16.

What is the rule regarding Form-16

According to the rules of the Income Tax Department, all companies have to issue Form-16 after filing TDS returns. Let us tell you that this year the last date for filing TDS was 31 May 2024.

This means that employees will get Form-16 by June 16, 2024. If the employee does not get Form-16, then he should talk to HR.

What is Form 16?

Form-16 contains information about salary and tax. It contains information about the source of income along with tax deduction and how much tax is levied on which income. Now the details of Form-16 are already present in ITR.

Now the taxpayer only has to check and submit the details of Form-16 while filing the ITR. After filing the ITR, the taxpayer has to e-verify it.  

How many parts does Form-16 have

Form-16 is in two parts. Part A of Form-16 contains the company's TAN number, company's PAN number, employee's PAN number, address details, assessment year, job tenure. Apart from this, it also contains details of TDS.

Part B of Form-16 contains the details of tax along with the salary breakup of the taxpayer. Apart from this, it also contains information about the taxpayer's gross salary, net salary, house rent allowance, PF account, professional tax, tax deduction, investment, saving plan etc.

Form 26AS is also necessary

Form 26AS is also necessary. Form 26AS is a consolidated tax statement. It contains details of the taxpayer's income source and tax deduction. Form 26AS can be downloaded from the e-filing account on the official website of the Income Tax Department.

In such a situation, while filing ITR, the taxpayer should match Form 26AS and Form-16. If there is a difference in the information given in these two forms, then the ITR can also be rejected.