Steps to Download Form 16 for Salaried Employees

Form 16 is an important document for Income Tax Return (ITR) filing. It provides details about the taxpayer’s income and Tax Deducted at Source (TDS) during the financial year. While you can get Form 16 directly from the payroll department of your company, you can also download it from the TRACES portal.

As per the Income Tax Act, the employer needs to deduct tax from your salary if it exceeds the exemption limit. It provides details about the gross total income, taxable income, exemptions, and tax deducted. 

It is essentially the proof that your employer has deposited the TDS deducted. Form 16 can serve as proof of income for financial services and products, such as loans. You also need this document to successfully file your income tax return.

The deductors of tax at source, i.e., employers, can initiate the Form 16 download process. As per the Income Tax Regulations, the employer or the deductor must provide this form to you, the deductee.

The Income Tax Department allows employers to download this from the official TRACES portal. Here is how to download Form 16 from the Income Tax site in a few simple steps:

1. Visit the TRACES portal of the Income Tax Department

2. Choose the ‘Deductor’ section available on the home page 

3. Log in using the User ID, Password, PAN, and the captcha code

4. Unregistered users can use their TIN and TAN as User ID and password

5. Select ‘Form 16’ and enter the relevant details like the assessment year

6. Click on the ‘Go’  button to download the form

As mentioned earlier, your employer can download Form 16 online from the TRACES portal, and you can get it directly from them. You can request the organisation or company’s HR team to send the TDS certificate for any period during the previous year. 

Employers can issue Form 16 for the previous year by categorically choosing last year’s TDS assessment period on the TRACES portal.

The employer needs to fill out the form in two parts. The following details are mentioned in Part A of the form:

• Employer’s TAN and PAN 

• Employer’s name and address 

• Details of the quarterly statement of TDS deductions

Part B contains the following details:

• Details of the employee’s salary, along with any other income 

• Details of the exempted allowances as per Section 10

• Deductions made by the employees under Chapter VI-A of the Income Tax Act, including contributions made under sections 80C, CCC, CCD, E, and G

• Details of the tax deducted and deposited into the Central Government’s account