Part A of Form 16
It provides the details of the TDS that is deducted and deposited. This form can be generated by the employers through the TRACES portal.
The employer must verify the contents before issuing the certificate. Here are a few components of Part A of the salary TDS certificate.
- Name and address of the employer
- TAN and PAN of employer
- PAN of the employee
- Summary of tax deducted and deposited quarterly, which is certified by the employer.
Part B of Form 16
It is an annexure to Part A, Part B is prepared by the employer for its employees and it contains details of the breakup of the salary deductions approved under Chapter VI-A. In case of a job change in one financial year, Form 16 should be obtained by both employers. Some of the components of Part B are:
- Detailed breakup of salary
- Detailed breakup of exempted allowances under Section 10
- Deductions that are allowed under Income Tax Act (Under Chapter VIA)