Form 16 is a certificate that consists of details of TDS (Tax Deducted at Source), other incomes, tax benefits, and tax calculations under section 203 of the income tax act 1961. Based on the data available in form 16 salaried employees can easily file their ITR (income tax returns).
Form 16 is also known as the income tax calculator and it consists of Two parts part A and part B. Form 16 will be issued once a year by the employer to the salaried employees.
Form 16 PDF Download
Difference between form 16 A and form 16B
Form 16 consists of two parts, they are part A and part B. The basic difference between part A and part B of form 16 is, part A consists of general information of employee and employer like their address, PAN & TAN details, etc.., whereas part B consists of salary and TDS details of the employee.
Income Tax Form in Excel 2023-24āŠĩāŠ°્āŠ· : 2023-2024 āŠŪાāŠે āŠāŠĻ્āŠāŠŪāŠેāŠ્āŠ· āŠāŠĢāŠĪāŠ°ી āŠŦાāŠāŠē
ðĨ āŠĻાāŠĢાāŠીāŠŊ āŠĩāŠ°્āŠ· 2023-'24 āŠŪાāŠે āŠાāŠĪ āŠāŠાāŠ°āŠĢી āŠŠāŠĪ્āŠ°āŠ āŠ
āŠĻે āŠŦોāŠ°્āŠŪ 16 āŠāŠ āŠ āŠŦાāŠāŠēāŠŪાં āŠāŠŠāŠēāŠŽ્āŠ§.
ðĨ āŠŦાāŠāŠēāŠŪાં āŠāŠ°ૂāŠ°ી āŠļુāŠ§ાāŠ°ા āŠđāŠĪા āŠĪે āŠŪુāŠāŠŽ āŠŦાāŠāŠē āŠ
āŠŠāŠĄેāŠ āŠāŠ°ેāŠē āŠે. āŠĻાāŠĢાāŠીāŠŊ āŠĩāŠ°્āŠ· 2023-'24 āŠŪાāŠે āŠાāŠĪ āŠāŠાāŠ°āŠĢી āŠŠāŠĪ્āŠ°āŠ āŠ
āŠĻે āŠŦોāŠ°્āŠŪ 16 āŠāŠ āŠ āŠŦાāŠāŠēāŠŪાં āŠāŠŠāŠēāŠŽ્āŠ§.
ððž āŠ āŠŦાāŠāŠēāŠŪાં āŠāŠŠ āŠુāŠĻા āŠ
āŠĻે āŠĻāŠĩા āŠŽંāŠĻે āŠ°ીāŠીāŠŪ āŠŠ્āŠ°āŠŪાāŠĢે Tax āŠāŠĢāŠĪāŠ°ી āŠોāŠ āŠķāŠāŠķો. āŠŦાāŠāŠēāŠŪાં āŠ°āŠđેāŠēી āŠĩિāŠāŠĪોāŠĻો āŠ
āŠ્āŠŊાāŠļ āŠāŠ°ી āŠāŠ°ૂāŠ°ી āŠĩિāŠāŠĪો āŠāŠ°āŠĩી.
ððž āŠŦાāŠāŠēāŠĻી āŠĩિāŠķેāŠ·āŠĪા āŠ āŠે āŠે āŠāŠŠāŠĻે SAS āŠŠોāŠ°્āŠāŠē āŠŪુāŠāŠŽ āŠĻું āŠુāŠāŠ°ાāŠĪી āŠŦોāŠ°્āŠŪેāŠāŠŪાં āŠાāŠĪ āŠāŠાāŠ°āŠĢી āŠŠāŠĪ્āŠ°āŠ āŠŪāŠģી āŠ°āŠđેāŠķે āŠĪāŠĨા āŠĪે āŠļિāŠĩાāŠŊ āŠ
ંāŠ્āŠ°ેāŠી āŠŦોāŠ°્āŠŪેāŠāŠŪાં āŠŠāŠĢ āŠāŠŠ āŠાāŠĪ āŠāŠાāŠ°āŠĢી āŠŠāŠĪ્āŠ°āŠ āŠŠ્āŠ°િāŠĻ્āŠ āŠāŠ°ી āŠķāŠāŠķો.
ððž āŠŦાāŠāŠē āŠŪોāŠŽાāŠāŠēāŠŪાં āŠŽિāŠēāŠુāŠē āŠāŠŠāŠĻ āŠāŠ°āŠĩી āŠĻāŠđીં āŠ
āŠĻે āŠŪોāŠŽાāŠāŠēāŠŪાં āŠāŠĄિāŠ āŠāŠ°āŠĩા āŠŠ્āŠ°āŠŊāŠĪ્āŠĻ āŠāŠ°āŠĩો āŠĻāŠđીં āŠો āŠŦાāŠāŠē āŠ્āŠ°ેāŠ āŠĨāŠķે āŠĪો āŠŠāŠ°િāŠĢાāŠŪ āŠļાāŠું āŠĻ āŠŠāŠĢ āŠŪāŠģે.
ððž āŠŦાāŠāŠēāŠĻો āŠāŠŠāŠŊોāŠ āŠāŠ°āŠĪા āŠે āŠāŠ્āŠŊાāŠ āŠ્āŠŊાāŠē āŠĻ āŠāŠĩે āŠĪ્āŠŊાં āŠŠāŠđેāŠēા āŠŦાāŠāŠēāŠĻો āŠ
āŠ્āŠŊાāŠļ āŠāŠ°ી āŠēેāŠķો āŠŠāŠી āŠĻāŠીāŠāŠĻા āŠાāŠĢāŠાāŠ° āŠĩ્āŠŊāŠ્āŠĪિāŠĻે āŠŠૂāŠી āŠēેāŠķો. āŠŦોāŠĻ āŠāŠ°āŠĩાāŠŪાં āŠŽિāŠēāŠુāŠē āŠāŠĪાāŠĩāŠģ āŠāŠ°āŠĩી āŠĻāŠđીં, āŠŪેāŠļેāŠ āŠāŠ°ી āŠķāŠો āŠો āŠļāŠŪāŠŊ āŠાāŠĒી āŠāŠĩાāŠŽ āŠ
āŠĩāŠķ્āŠŊ āŠāŠŠીāŠķ.
ððž āŠ āŠŦાāŠāŠēāŠŪાં āŠāŠŠ āŠુāŠĻા āŠ
āŠĻે āŠĻāŠĩા āŠŽંāŠĻે āŠ°ીāŠીāŠŪ āŠŠ્āŠ°āŠŪાāŠĢે Tax āŠāŠĢāŠĪāŠ°ી āŠોāŠ āŠķāŠāŠķો.āŠŦાāŠāŠēāŠŪાં āŠ°āŠđેāŠēી āŠĩિāŠāŠĪોāŠĻો āŠ
āŠ્āŠŊાāŠļ āŠāŠ°ી āŠāŠ°ૂāŠ°ી āŠĩિāŠāŠĪો āŠāŠ°āŠĩી.
āŠŪāŠđāŠĪ્āŠĩāŠŠૂāŠ°્āŠĢ āŠēિંāŠ્āŠļ
āŠāŠાāŠĢી āŠŠāŠĪ્āŠ°āŠ 2023-24 āŠĄાāŠāŠĻāŠēોāŠĄ āŠāŠ°āŠĩા āŠŪાāŠે āŠ
āŠđીં āŠ્āŠēિāŠ āŠāŠ°ો
Income Tax Form in Excel 2023-24
Part A of form 16 consist of the following details
TDS Certificate number
Date up to which form 16 is updated
Name and address of employee and employer
PAN & TAN of the employer
PAN of the employee
Period of employment with the employer.
Assessment year for which TDS deducted.
Summary of TDS paid or credited quarterly
Part B of Form 16 consist following details
Gross salary of employee and allowances like house rent allowances, leave travel allowances, leave encashment and gratuity, etc..
Deductions under entertainment allowances and tax on employment.
Exemptions under section 80C, 80 CCC and 80 CCD such as investments in a provident fund such as EPF and PPF, payment towards life insurance premiums, equity-linked savings scheme (ELSS), payment towards home loan, payments towards Sukanya Samridhi Yojana scheme, National Savings Scheme, and Senior Citizens Savings Scheme. The maximum limit to get exemption under these sections is 1,50,000 Rs.
Other deductions under section 80D (health insurance premium for self, family, and parents), 80E (payment towards education loan), section 80G (donations to relief funds and charitable trusts)
Total taxable income
Tax on total income.
2% education cess, 1% higher education cess, and 1% health cess.
Relief under section 89 when the employee gets a salary in the form of arrears or advance.
Finally tax payable amount.
Changes in income tax rules for ay 2020-21
A rebate under section 87A has been increased to 12,500 Rs from 2500 Rs.
Standard deduction has increased to 50000 Rs, earlier it was 40000 Rs.
The limit of interest income for TDS has increased to 40000 Rs, earlier it was 10000 Rs.
The limit of rental income for TDS has increased to 2.4 Lakhs, earlier it was 1.8 Lakhs.
New Income Tax Slab Rates in India (Fy 2020-21)
Annual Income Tax Rate
Upto 2,50,000 Nil
2.50 Lakhs to 5 Lakhs 5%
5 lakhs – 7.5 Lakhs 10%
7.5 lakhs – 10 Lakhs 15%
10 Lakhs – 12.5 Lakhs 20%
12.5 Lakhs – 15 Lakhs 25%
Above 15 Lakhs 30%
Existing Income Tax Slab Rates In India for Fy 2020-21
Citizens Below 60 yrs Citizens Above 60 Yrs Citizens Above 80 Yrs
Annual Income Tax Rate Annual Income Tax Rate Annual Income Tax Rate
Upto 2.50 Lakhs Nil Upto 3 Lakhs Nil Upto 5 Lakhs Nil
2.50 Lakhs – 5 Lakhs 5% 3 Lakhs – 5 Lakhs 5% 5 Lakhs – 10 Lakhs 20%
5 Lakhs – 10 Lakhs 20% 5 Lakhs – 10 Lakhs 20% Above 10 Lakhs 30%
Above 10 Lakhs 30% Above 10 Lakhs 30%
How to Manually Fill Form 16 with Example
If you want to manually calculate how much tax you are liable to pay then use the above form 16 excel format for ay 2020-21 and enter your details as shown in the below images.
Sample Part A of Form 16 in Excel Format for Ay 2020-21
Form 16 part A excel format for ay 2020-21
Sample Part B of Form 16 in Excel Format for Ay 2020-21
Form 16 in excel format for ay 2019-20 free download
If you are still finding difficulties in calculating your net income tax amount then you can calculate it easily online at the income tax department web site of India. To calculate your income tax you need to select the assessment year, category of taxpayer, net taxable income, income tax after relief u/s 87A, surcharge, health, and education cess…
income tax calculation online
Calculate your income tax online
Form 16 Related Information
What is Form 16 Eligibility Salary
The eligibility salary limit to get form 16 is 2,50,000 Rs. If your annual income is 2,50,000 or above then you will fall in the income tax slab limit. In that case, you need to submit an investment declaration form to your employer.
Based on the details furnished on investment declaration form your employer will generate your form 16 after making TDS payment.
What is Investment declaration form
The investment declaration form is a declaration by the employee, based on the information provided on investment declaration form employers will calculate how much TDS should be deducted from the employee salary.
About TDS on salary
TDS is a part of income tax, and the full form of TDS is Tax Deduction at Source. TDS will be deducted on salary and interest on bank deposits etc.
TDS will be paid by the employer on behalf of employees. Based on the estimated earnings of a person the TDS will be calculated and the same amount will be paid to govt periodically i.e if the employer is paying salary every month then TDS will be deducted every month. ( If an employee falls under income tax slab limit).
Based on the amount paid towards TDS the employees can adjust their net income tax payable for every financial year.
If anyone pays excess TDS then the excess amount will be refunded to that person after filing IT returns.
How to get Form 16
What is Form 16 password
After downloading form 16, you need to enter a password to open it. The password to open form 16 is your 10 digits PAN followed by your date of birth. For example, if your PAN number is BUOPM1234X and date of birth is 24/05/1985 then the password is BUOPM1234X24051985
Last date to issue form 16
The last date to issue form 16 to employees by employers is 31st May of every year. By this date, every employer has to issue form 16 to employees from whom they are deducting TDS.
If TDS is not deducting from employee salary then there is no need to issue form 16.
Employer is not giving form 16
It is the right of the employee to get form 16 when he contributing to TDS. If your employer is not issuing form 16 then under section 272A(2)(g) of income tax they need to pay a penalty of 100 Rs till the date of issue.
Form 16 Uses
To file ITR: Form 16 is required to file IT returns and it acts a proof that you paid TDS.
Form 16 acts as a proof of income, and it is required to get loans.
Due date to file income tax returns for Ay 2020-21 (Fy 2019-20)
The actual due date to file IT returns for the financial year 2019-2020 (ay 2020-21) is 31 st July 2020, but due to lockdown in India, the due date is extended to 30 November 2020.
CategoriesDownloads, Income Tax
TagsFor 16 in Excel, Form 16 in Excel Format for AY 2019-20
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Aadhaar Authentication Failed. Aadhaar Number, Name, DOB or Gender Mismatch with Registered Data.
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