Part A: Tax Information
Part A of Form 16 is the summary of the tax deducted by your employer.
It contains the
- Name, address (as per income tax database), and PAN of the employee and
- TAN and PAN of the Employer,
- Details of Tax Deducted at Source (TDS)
- Amount deducted.
- Date deposited.
Part B: Income and Deductions
- Details of Salary Paid.
- Income from Other Sources: This section will list any income you earned outside your salary, like interest earned or rental income.
- Deductions under Chapter VI-A (Section 124): This section will detail any tax exemptions you claimed under Chapter VI-A of the Income Tax Act, which includes deductions for various investments, expenses, and contributions.
- Net Income Tax Payable