Parts A and B: Form 16 has two parts: Part A shows TDS details and Part B shows salary, deductions, and tax regime opted by the employee.
Form 16 simplifies ITR filing for salaried individuals, showing TDS details and total income paid. Employers must issue Form 16 by June 15, 15 days after the May 31 TDS return deadline.
Inside Part A: Part A includes the total TDS for each quarter, and PAN details of employee and employer, and must match with Form 26AS.
Inside Part B: Part B shows the tax regime opted, gross salary, allowances, deductions, exemptions, and net tax paid on taxable salary.
Ensure No Mismatch: Match Form 16 details with Form 26AS to ensure accuracy. Download Form 26AS from the income tax e-filing portal for comparison.
Fix Discrepancies: If Form 16 and 26AS don't match, notify your employer for correction before filing your ITR to avoid issues.