Getting your Form 16 online is easy and convenient nowadays. Form 16, also known as the TDS Certificate, is an important tax document that your employer provides every financial year. It has details of the tax deducted at source (TDS) on your salary.
Why You Need Form 16
Here are some key reasons you need Form 16:
- It is proof that your employer has deducted TDS on your salary as per government rules
- You need it to file your income tax returns and claim tax refunds if applicable
- It shows your taxable salary and tax deductions for the financial year
- Banks/financial institutions may ask for it as income proof for loans etc.
So don’t miss out on getting your Form 16!
How to Get Form 16 from Your Employer
Your employer is required to issue Form 16 to all salaried employees latest by May 31st every year for the previous financial year. Here are the steps to get it:
- Check with your HR/Payroll department: Firstly, check if your employer provides digital Form 16 over email or through an HR portal. Many companies nowadays issue digital Form 16 for easier access.
- Login to HR portal: If your company has an online HR portal, login and check if your Form 16 copy is provided there. You can simply download it.
- Via email: Your employer may email your Form 16 directly to your official email ID. So keep checking your inbox around May-June.
- Physical copy: If your employer only issues physical copies, collect your Form 16 copy in person from your HR/Payroll department once it is ready. They may inform employees via memo/notice when it is available.
- Previous employer: If you switched jobs, remember to collect Form 16 from your previous employer too. Get in touch with their HR team.
- Follow up if needed: Politely follow up with your employer if you haven’t received Form 16 by early June.
How to Download Form 16 Online from TRACES
If you are unable to get Form 16 from your employer for any reason, there is no need to panic. You can directly download it online from the TDS Reconciliation Analysis and Correction Enabling System (TRACES) website. Here is the process:
- Go to the TRACES website
- Register yourself if you are a new user. Existing users can simply login.
- Go to ‘Download Form 16’ and select ‘Download From View 26AS’.
- Enter details like PAN, assessment year, type of form 16.
- An OTP will be sent to your registered mobile number. Enter it to verify.
- Select your employer and download Form 16.
This is a very handy facility provided by TRACES. Your Form 16 will have an electronic stamp for authenticity.
How to Get Online Form 16 if You Have Changed Jobs
If you switched jobs during the financial year, you will get Form 16 from both employers. Here is how to get them online:
- From current employer – Follow the regular process outlined above.
- From previous employer:
- First try contacting their HR team if you don’t already have it.
- Alternatively, login to TRACES and download it using the steps mentioned.
- You may need to request your previous employer to upload your Form 16 if they haven’t already.
- Mention salary from both employers correctly when filing ITR.
- Enter TDS details carefully to avoid mismatches.
Pro Tip: Save a soft copy of all your Form 16s in a folder for easy access when filing returns.
Key Details in Form 16
Form 16 has two parts – Part A and Part B. Here are some key details it contains:
Part A
- Your personal details like name, PAN
- Your employer details like TAN, address
- Details of tax deposited with government on your behalf
Part B
- Your total salary and allowances like HRA paid by employer
- Tax exemptions you availed like 80C, 80D
- Total taxable salary
- Tax deducted at source (TDS)
Make sure all details mentioned are correct!
Conclusion
I hope this detailed guide covered everything you need to know about how to get your all-important Form 16 online from your employer or TRACES website. Do remember to download it each year and keep it safe for filing your returns. Form 16 serves as an important proof of your income and taxes paid. Having it handy ensures smooth income tax filing and tax refunds. So be diligent in collecting it on time. Happy Tax Filing!