What is Form 16? What is last Date of Filing Income Tax

Question: Hi My Name Ravin Doshi, 28 years old, I am working as an Assistant Manager in private firm. My current salary package is six lakhs/pa. I joined last year in November 2010 I wanted to what is  Form 16 and last date of filling income tax as I am salaried person.

Hello Ravin,

Very interesting question as mostly people don’t know what is form 16 and for what purpose it is used, and also the last date of filing income tax, as an salaried person your last date of filing income tax is 31^st July so you have to hurry up.

Secondly At the end of financial year your company must have issued a Form 16 which contains the details about your salary what you have earned and how much it will be deducted. Form 16 gives details about the tax deducted by the employer on behalf of employees. And at the same it is paid to the government by the company. So just getting the From 16 is not enough for tax filing. Tax payer has to use this form to file their income tax return every financial at the end.

This certificate will be provided to you at the end of the financial year or normally by April 30. If there hasn’t been any TDS from your salary, they will provide you salary certificate, and not the Form 16.

For example, if your Tax at Deductive Source TDS is Rs 2799and Education Cess of Rs 72 are deducted from your April salary, Form 16 details will be provided to you. This is your final certificate issued to you by your employer in which the information and details about the salary that you have earned and the income tax which is deducted on your behalf by your employer and is paid to the government.

If you want to know how to file income tax click here

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